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A lot more information will be needed, but the calculation is fairly simple.

For a quick and down-n-dirty guess, ask your payroll people how much will be withheld under the first option and then under the second (there are tables if they do not want to tell you). This will allow you to determine how much you will have withheld (or approimate it anyway) for the entire year, by multiplying those amounts by the number of pay periods.

Then, assuming this year's income is close to last year's and your deductions/exemptions are similar, look at what you owed for 1998.

Compare the 2. Please note, that this is very quick and dirty.

I am sure there is some software that will do this, too, or just build a spreadsheet to model it. (Will I sound like a wacko, if I admit to being within $200 of my actual liability for the last 4 years by using my spreadsheet?)

Just a thought...
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