Taxes for two working spouses - Ask Rich / Money 101

kitkat8376 · 07-09-2009, 06:50 PM

I just started working and my annual salary is $21,840. My husband is a CPL and we live in North Carolina. I was just asked to fill out my tax forms yesterday and I have no idea (my employer didn't either) how to do the exemptions for both of us since we work. We also have 1 child and will be paying $4800/year for a babysitter for him.

Redbaron · 07-10-2009, 09:44 AM

There is an instruction sheet that goes along with the W-4. You can find it on www.irs.gov. This should help you determine your legitimate # of allowances. I usually lower my number by one just to be save. Rather get $ than owe.

Navgirl · 07-11-2009, 09:07 AM

I believe only one spouse can have exemptions and it's usually the higher income earner. So if you are making a lot less than your spouse then put 0 down in the exemptions. I just had to go through this last week but for CA. I put 0 on both the Federal and CA w-4's since dh has the higher income and claims me and the kids as dependents.

rosebud* · 07-19-2009, 04:20 PM

you can put whatever you want on your w-4 you can put married with 10 exemptions. the issue will be if you don't pay enough in taxes through out the year then you will have to pay when tax time comes.
So it doesn't matter. You can put married with one and he can have married with one.

clsmarathon · 07-19-2009, 04:26 PM

We both claim no exemptions. With bonuses and whatnot, it makes it tough from year to year to project. I'd rather get back than owe.

Kris · 07-19-2009, 04:28 PM

We always claim 0 and let them take out the most $$ and just get it back in taxes that way we never risk owing.

itsalwaysme · 07-20-2009, 06:13 PM

My husband claims 2 and I claim 0. We have 2 children

07-09-2009, 06:50 PM	#1 (permalink)
kitkat8376 Member Join Date: Dec 2007 Location: Camp Lejeune/Camp Geiger, NC Posts: 63 Classifieds: (0) Activity: 0% Longevity: 32%	Taxes for two working spouses I just started working and my annual salary is $21,840. My husband is a CPL and we live in North Carolina. I was just asked to fill out my tax forms yesterday and I have no idea (my employer didn't either) how to do the exemptions for both of us since we work. We also have 1 child and will be paying $4800/year for a babysitter for him.

07-11-2009, 09:07 AM	#3 (permalink)
Navgirl Aviation Addict Join Date: Nov 2007 Location: Korea Posts: 6,205 Classifieds: (0) Activity: 60% Longevity: 33%	I believe only one spouse can have exemptions and it's usually the higher income earner. So if you are making a lot less than your spouse then put 0 down in the exemptions. I just had to go through this last week but for CA. I put 0 on both the Federal and CA w-4's since dh has the higher income and claims me and the kids as dependents. __________________

07-19-2009, 04:20 PM	#4 (permalink)
rosebud* rosebud*<3 Brittany Jo && <3 thekels9 Join Date: Nov 2005 Location: [wherever his heart is] Posts: 32,651 Blog Entries: 2 Classifieds: (0) Activity: 49% Longevity: 67%	you can put whatever you want on your w-4 you can put married with 10 exemptions. the issue will be if you don't pay enough in taxes through out the year then you will have to pay when tax time comes. So it doesn't matter. You can put married with one and he can have married with one. __________________

07-19-2009, 04:28 PM	#6 (permalink)
Kris Finding strength one day at a time Join Date: Aug 2006 Location: Suffolk, Virginia Posts: 16,548 Classifieds: (2) Activity: 64% Longevity: 55%	We always claim 0 and let them take out the most $$ and just get it back in taxes that way we never risk owing. __________________ Yes I know I am smoking hot

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07-10-2009, 09:44 AM	#2 (permalink)
Redbaron Account Closed Join Date: Oct 2008 Posts: 362 Classifieds: (0) Activity: 0% Longevity: 18%	There is an instruction sheet that goes along with the W-4. You can find it on www.irs.gov. This should help you determine your legitimate # of allowances. I usually lower my number by one just to be save. Rather get $ than owe.

07-19-2009, 04:26 PM	#5 (permalink)
clsmarathon Senior Member Join Date: May 2009 Posts: 2,560 Classifieds: (0) Activity: 43% Longevity: 8%	We both claim no exemptions. With bonuses and whatnot, it makes it tough from year to year to project. I'd rather get back than owe.

07-20-2009, 06:13 PM	#7 (permalink)
itsalwaysme I'm lucky I'm in love with my best friend. Join Date: Mar 2008 Location: San Diego Posts: 4,905 Classifieds: (3) Activity: 26% Longevity: 28%	My husband claims 2 and I claim 0. We have 2 children