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Subject:  Planning for 2005 Taxes Date:  12/27/2004  6:54 PM
Author:  cookc2 Number:  74967 of 127753

Greetings All!

Here it is time to do tax planning for 2005. My situation is going to be a little more tricky this year. My job should stay consistent, of course, I hope to get a whopper of a raise! :) DW, on the other hand, will have some changes. For the first 6 months, she'll be completing her medical residency. I've got a good grip on her income for that time period. However, for the last 6 months, she'll have to get a "real job." I can surmise a ballpark figure for her income during that time. The bottom line, this is the last 6 months that I'll make more money than she will. Woo Hoo! Pressure is off! :) ....Sorry, I digress. I can also get fairly close with our deductions and such. So my question is, how do I figure our withholding? Do I treat her 2 jobs as 1 when doing the W4 worksheet, or is it more complex. Would you recommend completing the W4's as if our present situation were going to be for the whole year, and then reassess in 6 months? If I've left out required information, please let me know.

Any help is greatly appreciated.
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