We just had our second child and need to change our withholding on our w4. Problem is I don't know what to change it to.
We are a married filed jointly couple, each with a full time job. We have 2 kids and pay for yearlong daycare.
Suggestions?
Call an accountant to make sure you are doing what you are supposed to do and that it is right.
I am married with 2 kids. I claim 1 and my husband claims 3. He makes more than me so I make him claim the kids. You both cant claim them.
Talking to an account is best but you can also try the IRS deduction calculator to estimate it yourself.
Your employee human resources office should have a chart or formula that you can use. I think that you can also find one on the IRS web site. If not call the local IRS office.
I am married with 3 children, my husband and I both claim 0 on our taxes so hopefully we don't have to pay. There is a formula but I never trust it. I would rather get money back then have to pay.
