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Old 08-02-2014, 09:54 AM
 
Location: NJ
395 posts, read 603,968 times
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So this thread may get a variety of answers, but for a married person with possibly a child on the way, what is the "right" withholding to claim? I'm not looking for a big refund end of the year.
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Old 08-02-2014, 10:42 AM
 
26,191 posts, read 21,591,383 times
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Google 2014 irs withholding calculator and plug in your info
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Old 08-02-2014, 11:38 AM
 
Location: California side of the Sierras
11,162 posts, read 7,639,632 times
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It all depends. Filing status and number of dependents is only a part of your tax situation. The other parts are income, deductions, and tax credits.
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Old 08-02-2014, 12:27 PM
 
406 posts, read 619,814 times
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Not sure what "possibly on the way means"

But you will indeed probably see a substantial tax savings (not to be confused with an overall financial savings...) that would warrant changing your withholding when adding your first child. This would be especially true if you have things like daycare expenses to go along with the extra exemption and child tax credit, and if you income is not to far into six figures (or lower...)
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Old 08-02-2014, 04:46 PM
 
Location: OH>IL>CO>CT
7,519 posts, read 13,628,157 times
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Quote:
Originally Posted by Lowexpectations View Post
Google 2014 irs withholding calculator and plug in your info
Located at IRS Withholding Calculator
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Old 08-02-2014, 07:38 PM
 
406 posts, read 619,814 times
Reputation: 265
I consider myself relatively tax and finance savvy, but still find that online IRS calculator pretty unintelligible. I was thinking about using the tools built into my HR Block at Home tax software to try to run the numbers for the year ahead instead
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Old 08-02-2014, 07:41 PM
 
26,191 posts, read 21,591,383 times
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Quote:
Originally Posted by acgood View Post
I consider myself relatively tax and finance savvy, but still find that online IRS calculator pretty unintelligible. I was thinking about using the tools built into my HR Block at Home tax software to try to run the numbers for the year ahead instead

Unintelligible ? It's pretty straight forward
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Old 08-02-2014, 09:38 PM
 
Location: OH>IL>CO>CT
7,519 posts, read 13,628,157 times
Reputation: 11908
Quote:
Originally Posted by acgood View Post
I consider myself relatively tax and finance savvy, but still find that online IRS calculator pretty unintelligible. I was thinking about using the tools built into my HR Block at Home tax software to try to run the numbers for the year ahead instead
Really ?? I think it is one of the simpler things the IRS has ever done. When I needed it, I was able to adjust witholding so that come April 15, I was within $20 of break-even
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Old 08-03-2014, 09:50 AM
 
Location: NJ
395 posts, read 603,968 times
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Well I have no real way of knowing what I've made thus far or how much in taxes I've had taken out. I know longer work at the company I worked at the first 6 months of 2014. So the calculator may or may not work for me.
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Old 08-03-2014, 10:10 AM
 
26,191 posts, read 21,591,383 times
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Originally Posted by cm5878 View Post
Well I have no real way of knowing what I've made thus far or how much in taxes I've had taken out. I know longer work at the company I worked at the first 6 months of 2014. So the calculator may or may not work for me.


Call them and ask for a copy of your last pay stub.
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