W4 Assistance
Hello, my wife and I intend to file jointly next year. We have a 1yr old son. She is self-employed and I’m a W2. She is the higher earner and makes quarterly payments. To ensure I’m withholding enough on my W4, should I declare our son as a dependent? Or, should I not and let my wife do so in her quarterly tax payments?
Answers:
Hi Christopher-
I recommend claiming married filing jointly with two jobs only and no dependent. Then you need to do a tax projection to see if you are having enough withheld and to see if your wife is making adequate quarterly estimated payments.
Jackie Compton
Hi Christopher-
I recommend claiming married filing jointly with two jobs only and no dependent. Then you need to do a tax projection to see if you are having enough withheld and to see if your wife is making adequate quarterly estimated payments.
Jackie Compton
