What should I claim in federal tax exemptions and state tax allowances? See below.?
Thursday, May 20th, 2010 at
9:26 am
My wife quit her job due to a recent relocation for mine, so now I’m the sole provider. We have 1 child and file our taxes jointly. I have been claiming 1 on my federal tax exemptions for my daughter. On my state tax allowances I claim 0. I would like some advice/information on what to set these at. Thanks in advance for the advice.
****Please, serious answers only.****
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If you have two wage earners and one kid, the person with the higher wages should claim married 3 and the lower wages should claim married, but withhold at higher single rate with zero deductions/exemptions.
If you have only one wage earner, you should file married with three deductions. When your wife goes back to work, go back to the first paragraph.