Unregistered
It just occurred to me that I have not changed my withholding status on my W-4 since 1999 (it's currently a "1") . Since that time, my wife had stopped working to stay at home, and I now have one child as a dependent.
My working income is not that high, but combined with investment income, it has allowed us to receive a very large refund this year. Even with this being the case, we still use my working paycheck for everyday costs and all other income goes mostly to large expenses and back into savings.
Should I change my status to a "2" or even a "3" for more everyday money in my pocket? Could this hurt me on next years taxes?
My working income is not that high, but combined with investment income, it has allowed us to receive a very large refund this year. Even with this being the case, we still use my working paycheck for everyday costs and all other income goes mostly to large expenses and back into savings.
Should I change my status to a "2" or even a "3" for more everyday money in my pocket? Could this hurt me on next years taxes?