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URL:  https://boards.fool.com/then-we-noticed-at-the-bottom-quotfor-10509293.aspx

Subject:  Re: Filling out W-4 Date:  1/9/1999  5:24 PM
Author:  bostonbear Number:  8169 of 129792

Then we noticed at the bottom, "For accuracy, complete all worksheets that apply." This included the "Two-Earner/Two-Job Worksheet on Page 2". So we filled this sucker out, and it revealed that we should not only be not claiming any exemptions, but we should be asking our employer to withhold an extra $200 each! "Egads," we thought. "This can't be right." Can it? Obviously these worksheets don't take into account everyone's situation, but is it possible that the typical married couple really pays this much tax, or is this in an absolute worst case scenario?

Hello JoeSchmoe,

Funny thing is, back in September (I think) I did a similar calculation... became astonished I would need to have extra money withheld from my paycheck even when I claimed 0 deductions... and posted a note right here just like you! Looks like my situation is like yours. I have an extra amount withheld (both my wife and I work).

The bad news is that you probably do need to withhold extra. The others have filled you in on the marriage penalty and all that. I'll just try to point out the "silver lining" to this situation...

I got angry about my taxes in September (being a bear I tend to get grumpy too)... this has taught me to plan for taxes instead of reacting to a big bill. Finally, my wife, who is the eternal optimist (hard to believe she married a bear), summed it up best...

"The fact that we pay quite a bit in taxes is a good thing. That means we're doing pretty well financially, right? Paying taxes is a high quality problem. Now go get a beer and see your beloved Patriots win."

She was right about one thing, anyway.

Regards,

BostonBear

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