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Author: ptheland Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121219  
Subject: Re: getting married Date: 8/5/2000 10:15 PM
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I tried the search but am posting anyway. Basic facts...I'm getting married in October and due to pulling the cart before the horse so to speak, we are expecting our first eligible deduction in March of 2001 hopefully a future fool with 10 toes and fingers and as healthy and as can be.

Well...I make around $45K and mom to be will make about $28-30K this year unless the morning sickness puts her out of commission for the remainder of the year. I read somewhere that I should change my W4 if I want to have more $$ per pay check verses getting the relatively large tax return the following year and I think they recommended an additional allowance for each $600 returned. So...last year I got about $2400 returned so I could add 4 more allowances??

I thought about doing this but forgot about the marriage penalty thing which appears to be on the Republican sounding board. Anyway, suggestions/food for thought would be appreciated.


I'd be careful with that rule of thumb. I'm not sure whose thumb they're using. Besides, because you're getting married this year, last year's refund is a useless guide to what to expect this year.

I'd suggest going through the W4 worksheets or using one of the on-line calculators. Try a search for "w4 calculator" and look for a message in the last month. I'm sure it's been mentioned recently.

When doing your W4 planning, remember that you will be married at the end of the year, so you need to fill them out as if you are married now. This will probably result in a suprisingly SMALL number of allowances to claim. Also remember that barring an unexpected early delivery (which I sincerely hope is not an issue) your little bundle of joy won't be an additional deduction until 2001. So you don't want to work him/her into the picture until January. At that point, you'll need to go through the process again, considering the additonal deduction, and the probable reduction in mom's income until she decides to go back to work after the delivery.

Congratulations on both the wedding and the baby!

--Peter
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