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April 2012 Moms
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Any tax/money wise peeps?

Christina_DianeChristina_Diane member
in April 2012 Moms

How do I figure out how much I should be withholding? I received a sizable raise this year  (almost 5k)  and it is barely only an extra $200 a month net.

On my paycheck stub it says m/0 and m/0/0 for withholding. I think that is married and zero, and I think that is wrong.

This year we received a large refund, and I'd rather hold onto my money each month and be closer to breaking even come tax time.

It is just dh, LO, and me.

I should probably just call our tax guy. 

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Re: Any tax/money wise peeps?

  • puppylove64puppylove64 member
    Call your tax guy. M/0 means married and 0 dependents. You need to consider dh's withholding too. You could probably both do m/1 and be fine. Your dependents could equal you dh and all los. But it does depend on how much you both make, so talk to your guy. If you are up for some math, look at how much tax you paid last year, and use the IRS circular e to figure approx what each paycheck needs to withhold to equal 100 to 110 percent of last year, as long as all other things are comparable
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