Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 05-20-2008, 11:28 AM
Junior Member
 
Join Date: May 2008
Posts: 1
W4 Question

Hello

My husband has just started his first job in America. He is a greencard holder. I am currently not working but am looking for work. (I am American) We have only been in the US for 8 months but married for 2 years.

My husband just brought home a W4 form to be completed and we are not sure how to complete this. We don't want to have to owe any taxes at the end of the tax year.

Should he claim married with 0 allowances? If so, what should I claim once I find a job?

Any help would be appreciated. Thank you



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 05-21-2008, 10:36 AM
TaxGuru's Avatar
Tax Guru
 
Join Date: Jan 2007
Location: New Jersey, USA
Posts: 2,417
Blog Entries: 3
Regarding W-4 Question

Generally speaking, as a taxpayer who is filing married filing joint tax return, you are entitled to claim 2 allowances on the W-4 Form assuming you have no children or dependents (you would be entitled to claim 1 additional allowance for each dependent).

Thus, your husband should claim 2 allowances, and this would generally result in little or no additional tax liability at end of the tax year.

Similarily, when you get a job, you should also claim 2 allowances on your W-4 thus, you would have paid sufficient taxes on your income from employement that is reported on Form W-2.

However, if you have any other income such as capital gains, rental income, substantial interest income or dividend income, then you would owe taxes on this amount and this could result in additional tax liability at the end of the tax year.

__________________
Find a CPA near you!

Ask TaxGuru Please refer to the legal disclaimer.


Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.