My husband and I just got married in August and we plan to file jointly. He makes about 40k more than I do so what should our W4s look like respectively?
I read on a didn't thread but I'm not sure what it means.
Meaning, the breadwinner should have the least amount withheld from their paychecks, while the person earning less should have the maximum withheld. Come tax time, this will help offset tax due because you’ll have maxed your withholdings throughout the year.
Thank you
Hi @KaylenWhite
After getting married, couples should consider changing their withholding. Newly married couples must give their employers a new Form W-4, Employee’s Withholding Allowance within 10 days. If both spouses work, they may move into a higher tax bracket or be affected by the Additional Medicare Tax. They can use the IRS Withholding Estimator on IRS.gov to help complete a new Form W-4.
I highly suggest going to the estimator and inputting your incomes. This will be the best solution to knowing how much each of you should be withholding for the year.
Thank you for choosing TurboTax!