Actually, what you claim on your W-4 does not necessarily equal what your "exemptions" are on your tax return. In actuality, we should claim "8." The "exemptions" on your tax return don't paint the whole picture of your tax liability. For instance, we can claim 5 exemptions on our tax return, but we have 3 children and also get the child tax credit for each. Anyway, we did the W-4 calculator's personal allowances worksheet on the IRS's website here:http://www.irs.ustreas.gov/prod/ind_info/webw4/pers-allow.htmlFor this year, we can put "10" on our withholding - for every other year (when we make a full year's income) we can put "9". I don't work, we have 3 children, we claim the child tax credit for each one, yada yada yada....Again, withholdings on your W-4 does not necessarily equal your exemptions on your tax return.
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