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Author: TMFTaxes Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121182  
Subject: Re: Why do I always owe? Date: 2/1/2000 3:22 PM
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<< My wife and I for the past 2 years are will owe approximately 4k in taxes. We both claim 1 on our taxes and write off everything we can think of. We haven't met with an accountant yet. Does anyone have any clues. >>

Welcome to the marriage penalty. Obviously, both of you claiming "1" on your W-4 form won't cut it. You may both have to go to zero. And even with that you might have to make additional withholding contributions (as has already been pointed out).

You can read more about the marriage penalty and how it works in the Taxes FAQ area.

TMF Taxes
Roy
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