View Full Version : need help with w-4


erikm
i was divorced in 2008, joint custody of 11yo, but she lives with me. i am terrible at figuring out the w-4 withholding. i know i get one for me and one for her, should i increase the allowances? i don't want to get stuck owing taxes but i can't see overpaying so much again either. i tried the IRS web calculator and got different recommendations every time i used it...

clydewolf
Erikm,

You must be using different numbers to get different results.

I have heard good things about this W-4 Calculator:
http://www.paycheckcity.com/W4/w4instruction.asp

Give it a try.

erikm
here's what it came up with....a total of 6. it just seems high to me, of course the last 20 years were married/joint filing. i checked with HR and fed/state are at 1 and 1. i just don't want to end up owing taxes for 2009

36k salary
1 child/dependent
single/head of household

clydewolf
Erikm,

With $36,000 of income and no adjustments to that number, this is your AGI.

- subtract the standard deduction for HH in 2009 - $8,350 = $27,650.

- subtract 2 depenents, at $3650 each = $20, 350.

- tax on $20,350 for 2009 = $2,455.

- you will have a $1,000 child tax credit, your tax will be $1,455.

If you pay for dependent care, you may have an additional tax credit.
If you contribute to a retirement savings plan (401k, 403b, IRA, etc) you may have an additional tax credit.

In your situation, with an AGI of $36,000, HH filing staus, and one 11 year old dependent, your tax bill will be $1,455. Divide that by the number of pay periods and you will have the amount you need withheld each pay day.

Do not forget to take into account the amount you have already had withheld thus far in 2009.

erikm
thank you for your input, that helps a bunch :)