Submitted by has_potential t3_10q3yi9 in personalfinance
Spouse started a new job and will make nearly as much as me for taxable income. We prefer to have a larger refund (not here about discussing that). What will she select to ensure we get more back at the end of the year?
Under step 4(c), put in as high a number as you feel comfortable in your budget.
You should both withhold at the single rate (yes both of you). Then, take the amount of refund you would like, divide it by the number of times one of you is paid, and put that amount of extra withholding on 4c for that one w4.
So, on her W4, still put "0"?
Does it matter If we have dependents for 4C?
Just single, 0 everywhere else on her.
How many children under 17 do you have? If you both fill out your w4 as Single, no adjustments your refund will be about 2k per child over 17. Is that a big enough refund for you, or do you want to add more?
I haven't changed my w4 and have always claimed 0. We have 3 under 17. So 6k would likely be good. Just wondering how to achieve this with her W4.
There is no way to know the amount of refund without knowing what setting you have on your w4. We don't know if you new w4 form married 0, single 0, old form married 0, new form single 0. Those are all different.
If you and her are both at single, 0 adjustments on the new w4 you should get a refund of about 6000. If you are at married 0 though, then the refund will be less, how much less depends on your total income.
Thanks. This all seems very confusing. Just want to get the 6K and call it good. Lol.
Then switch both of you to the single setting. This accurately allocates half the married standard deduction and tax brackets to each job and withholds enough to cover your taxes. Leaving the child tax credits to be refunded to you when you file.
So we wouldn't file "married filed jointly "?
Sorry if this is too much. My status. In military mypay is married, 0 exemptions, 0 additional deduction.
Multiple jobs or spouse works is an optional selection and I don't have it selected.
On your w4 form you use the single setting for withholding. This is just for a math equation to make sure enough is withheld. It is not selecting a filing status.
When you file your tax return, the 1040, you file as joint.
You both select single, Both of you. You need to update your w4 too. Don't use married/spouse also works as way too many employers are messing that setting up.
Ok. Thank you . I'll have to verify me clicking "single" doesn't affect my other information in our mil pay system. Still shows "0" for exemptions. I'll have her select single on hers.
On line 4c put an amount equal to her gross pay and they will withhold it all - that way you can get it all back at the end of the year (for some reason).
84740296169 t1_j6nnsls wrote
It really depends on what your W-4 filing is because they work in tandem.