Question
Allowances help
Hello,
I am trying to figure out how many allowances to enter on the W4 when I start my new job in a few weeks. A number of facts are making this difficult:
1) I Got married in ‘19 and we will file jointly
2) I had business income from 1/1-7/31 + paying estimated taxes qrtly
3) Wife is employed FT and has always had 0 allowances
4) When I was employed and single I had 2 allowances max
5) We have a child and will claim dependent care credit + child tax credit
As I mentioned the most allowances I ever had was 2. However I tried using the IRS withholding calculator and it suggested 12 for me on my new job and 14 for her. Not sure where I went wrong but could use some help! Let me know if you need specific income amounts.
I am trying to figure out how many allowances to enter on the W4 when I start my new job in a few weeks. A number of facts are making this difficult:
1) I Got married in ‘19 and we will file jointly
2) I had business income from 1/1-7/31 + paying estimated taxes qrtly
3) Wife is employed FT and has always had 0 allowances
4) When I was employed and single I had 2 allowances max
5) We have a child and will claim dependent care credit + child tax credit
As I mentioned the most allowances I ever had was 2. However I tried using the IRS withholding calculator and it suggested 12 for me on my new job and 14 for her. Not sure where I went wrong but could use some help! Let me know if you need specific income amounts.
