I have been very confused on our witholdings on our W-4 and K-4 (Kansas) for the last 3 tax seasons.
In 2011 my husband and I combined made a little bit over $61,000. My husband is claiming Married w/ 1 on his W-4 and Single w/ 1 on his K-4.
I claimed Married w/ 0 on both.
We have to pay in $273.00 in federal taxes and the state of Kansas owes us $102.00.
I submitted a new W-4 & K-4 for my husband and I for 2012. We are both claming married but withold at higher single rate w/ 1 allowance for Fed. and for state we are both claiming single w/ 0.
Is this a wise choice or should we both just go Single w/ 0 and Single w/ 0????

“I submitted a new W-4 & K-4 for my husband and I for 2012. We are both claming married but withold at higher single rate w/ 1 allowance for Fed. and for state we are both claiming single w/ 0.”--->I guess you are correct for Fed. You can claim 1 W/A on W4 line H.However, I guess it also depends if you itemize your deductions. You can follow the instructions on W4 Deductions and Adjustments Worksheet to determine proper W/A number for you.You can increase/decrease W/A.For Fed. The number of W/A claimed on Form W4 May differ the number of exemptions claimed on your tax return on 1040. So, you can increase/decrease the number of W/A on your W4 on your eligibility and desire for a higher paycheck or a higher refund.However, a tax refund should not be considered free money. If you do receive a large tax refund, you are essentially giving the government a tax free loan. If you usually receive a large refund, it would be wise to look at your deductions you have marked on your W-4 with your ER. If you change your deductions and have less deducted from each check you could either use that on other expenses throughout the year or save it and use it to buy something like you use your tax refund.
“Is this a wise choice or should we both just go Single w/ 0 and Single w/ 0????”-----> I guess NOT perfectly; it depends on your specific tax situation and the need; a W-4 form is required of all employees to help employers determine how much money to withhold from their paychecks. If you have too little taken out, you'll owe money when you file your return. That's not good, obviously; no one likes to write out a big check to IRS. If too much is withheld, you'll get a refund, and that's not good either. That means you've given IRS free use of your tax money ;money you could have made better use of yourself throughout the year.The best course is to adjust your withholding so your tax payments will match your actual tax liability. To IRS, you will neither a borrower nor a lender be. To make the change, file a new W-4 with your employer. This will change the amount that comes out of your paycheck.