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Tax Question: Help a newly married brother out...

post #1 of 6
Thread Starter 
So,

I got married in June of this year. I also just accepted a new job offer, so I'm filing out a new W-4.

Problem is, I'm the first one to fill it out as "Married Filing Jointly" and I'm totally confused. Mainly because my wife makes nearly 3x as much as I do, and my suggested "additional witholdings" are way way way too high. Like, 85% of my check each pay period.

Now, the reason it's so high is that it asks me to divide by the remaining pay periods in 2010, which is 4. If I were filing this out in December, I would be dividing by 24.

So what's the proper way to go about this? I'm not getting something...

I'm an idiot, so, apologies in advance.

Chad
post #2 of 6
Hard to say without all the info (the bad news is that the super-high withholdings might be right, if you have been under-withholding all year). There's a calculator on the IRS website that breaks it down into more basic steps: http://www.irs.gov/individuals/page/0,,id=14806,00.html
post #3 of 6
Quote:
Originally Posted by imightbechad View Post
So,

I got married in June of this year. I also just accepted a new job offer, so I'm filing out a new W-4.

Problem is, I'm the first one to fill it out as "Married Filing Jointly" and I'm totally confused. Mainly because my wife makes nearly 3x as much as I do, and my suggested "additional witholdings" are way way way too high. Like, 85% of my check each pay period.

Now, the reason it's so high is that it asks me to divide by the remaining pay periods in 2010, which is 4. If I were filing this out in December, I would be dividing by 24.

So what's the proper way to go about this? I'm not getting something...

I'm an idiot, so, apologies in advance.

Chad

How does it feel to be a kept man?
post #4 of 6
Quote:
Originally Posted by Slopho View Post
How does it feel to be a kept man?

I'm Jealous.
post #5 of 6
Quote:
Originally Posted by Slopho View Post
How does it feel to be a kept man?

damn good I would imagine.
post #6 of 6
OP - does your combined income push you (as a couple) into a higher tax bracket or make AMT an issue if it previously was not?
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