Question about Income Tax.

I never changed what I was claiming on my inclome tax after we got married. I am still claiming Single Zero and they take a ton of money out of pay. After getting our taxes done, our accountant advised me to change my statis.

My question is should I change it to married Zero or One? I don't want to end up paying next year either.

TIA
Danielle

Re: Question about Income Tax.

DH and I both claim 0 because we like to get a large check once a year. It means we get less in our checks throughout the year, but it was well worth it when we heard what we are getting back this year.

Re: Question about Income Tax.

Do married 0.

There are plenty of IRS W4 witholding calculators on the internet.

Re: Question about Income Tax.

I also did married, 0.

Re: Question about Income Tax.

Change it to married, zero. I know everyone likes getting the big tax refund but from a financial standpoint, it's a bad financial move because you are basically overpaying your taxes. It's like loaning Uncle Sam money for a year without any interest.

Re: Question about Income Tax.

We both kept ours at Single 1

Re: Question about Income Tax.

Thanks everyone for the info.

Re: Question about Income Tax.

I claim single 3 and DH claims single 1 (i think). We still got a very large refund and we didn't even own our house the entire year. I think I may change to married 3. I don't like the large check at the end. I'd rather invest it at my own discretion.