Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
I realize that this is probably a basic questions, but I couldn't find anything that directly addressed it. I bought a house at the beginning of 2000, am married and we are expecting our first baby in March 2001. Since I have little concept of how much refund I will get, I have just left my tax exemption at 1. What should I up this to, or where can I find a calculation sheet to help me make an educated judgement on how much I should have withheld vs. getting paid out in each pay check. I am asking this both in light of our new home and considering alternative income scenarios for my wife (continue working full-time, part-time or not at all). Thank you for your help.
Print the post  

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.