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New Member
posted Jul 21, 2021 4:07:35 PM

New Dependents

Hi there! I recently got full custody of my kids and married (all in 2021). How will this affect my taxes this next time I file? How many allowances do I now claim for my W-2?

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1 Replies
Expert Alumni
Jul 21, 2021 4:19:21 PM

Find your federal bracket below. The brackets are graduated (calculate the amount for the percentage your income falls within the rate). Divide your total tax by the number of pay periods per year. Adjust your exemptions with your employer where appropriate:

 

Tax Brackets and Rates, 2021
22% $40,526 to $86,375 $81,051 to $172,750
24% $86,376 to $164,925 $172,751 to $329,850
32% $164,926 to $209,425 $329,851 to $418,850
35% $209,426 to $523,600 $418,851 to $628,300

 

Exemptions were eliminated with the 2017 tax cuts. You will item or take the standard deduction to arrive at your adjusted gross income. You will get the child tax credit for your children if they qualify. You may also qualify for the dependent expense deduction.

 

https://www.irs.gov/newsroom/child-and-dependent-care-tax-credit-faqs