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how many exemptions should I claim?
We get back about $2500 in taxes each year. My husband and I file married jointly and have 3 young children. I want to avoid paying anything at tax time. Any ideas on how many exemptions I should claim?
2 Answers
- rtfmLv 71 decade agoFavorite Answer
Do you mean you want to change the way you're currently doing things, and get less of a refund each year? If so, try claiming one more exemption than you currently do, and see what difference that makes in your weekly paycheck. If they're still holding out too much, add another and see what that does.
Or just play around with one of the withholding calculators on line. The IRS has one you can use:
- 1 decade ago
on your w-4 the best bet would be married but withhold at the higher single rate and 0 dependents (both you and your husband should do this) that will help prevent that you from owing and most likely causing you to have a refund unless you have self employment or other nontaxed income.
