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Last year I was not married and claimed 1 single. I got back nearly 4000 on my tax returns. This year I am claiming married 0 and my bi-weekly paycheck is nearly $200 more than it was with the same salary last year which comes out to an extra $4800 approximately this year. If this is correct I'll end up owing next year.
So claiming 1 single vs married 0 is this big of a difference? Do they just assume you need a ton more money when you are married? LOL
Or how does this work? Based on my math it look like I should be doing married 0 plus an additional $30 or so withheld per paycheck. I'm just trying to get a better understanding on all this to get it to where I break even at tax time every year.
Definitely do the calulator. But you don't really want to give the government another 4800 interest free loan again. Even putting it in a 1% savings account is better.
When you claim married, you have another dependent on your return. The assumption is that your spouse earns less or no money. Maybe not right, but that's the way it is.
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