Hello. I am the custodial parent, claiming my son every other year. Should my W4 be 500 or 2000 for him as my dependent? I thought I had it figured out, but my federal withholding is incorrect on my paychecks. It's way too little.
I am trying to maximize my tax refund and not owe next year. Should I even update the dependent section on my W4 at all? Any suggestions?
