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Does any Fool out there have a good method of determining the amount of federal withholding from your paycheck?

My situation is probably common out there. Both my spouse and I work. Incomes in the $40 to $60 thousand range. The problem is withholding by each employer is low since their formulas take in account only that one salary which is not far from the 15% tax range. But combined, the family income is solidly in the 28% range. Each raise which can come at any time of the year screws up my calculations (though I am not complaining about the raise). Each time stock is sold makes matters worst.

I have gone anywhere from getting a refund of $1500(2 years ago) to owing $1200 (this year).

Sometimes it takes the employers awhile to implement changes from a new W-4.

Is there a good methodology to maintain correct withholding without giving the government too much? I hate large refunds. Can you pay varying estimated tax payments or do they have to be the same each quarter?
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