Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
Still need to file? Our experts can get your taxes done right. Get started >
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
Taxman57
Level 1

W-4

My wife and I both work and we have two kids.

We file a joint return every year. With the new W-4 what is the best allocation for us the claim? 

I use to claim 3 on my past W-4 and now my wife’s got messed up and it shows no withholding. I need to get that fixed ASAP but what is best for both of us?.

 

I always tried to have the most taken out to end up with no refund or owe the government.

thanks  

1 Best answer

Accepted Solutions
conniem123
Employee Tax Expert

W-4

Hi Taxman57, yes that's always the sweet spot to not owe and not a large refund!  Finding that perfect withholding can be tricky.

 

There is a W-4 Calculator to walk your through the steps,

https://turbotax.intuit.com/tax-tools/calculators/w4/

 

If you find there is not enough withholdings, one remedy to increase withholding from paycheck:
Remove the Child Tax Credit from Step 3 (Claim Dependents), this will remove the credit and
allow the employer to withhold more tax.

 

Once you complete the form, give it to your employers. Then, keep a close eye on your next few paychecks to see how the changes impacted your federal income tax withholding.

 

I hope you find this helpful!

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

1 Reply
conniem123
Employee Tax Expert

W-4

Hi Taxman57, yes that's always the sweet spot to not owe and not a large refund!  Finding that perfect withholding can be tricky.

 

There is a W-4 Calculator to walk your through the steps,

https://turbotax.intuit.com/tax-tools/calculators/w4/

 

If you find there is not enough withholdings, one remedy to increase withholding from paycheck:
Remove the Child Tax Credit from Step 3 (Claim Dependents), this will remove the credit and
allow the employer to withhold more tax.

 

Once you complete the form, give it to your employers. Then, keep a close eye on your next few paychecks to see how the changes impacted your federal income tax withholding.

 

I hope you find this helpful!

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
message box icon

Ready to start your taxes?

Hand off your taxes, get expert help, or do it yourself.

See Pricing
Manage cookies
v
ABCDEFGHIJKLMNOPQRSTUVWXYZabcdefghijklmnopqrstuvwxyz0123456789-_~