Thursday, May 13, 2010

I got married in Dec 2006 and my spouse is not working. should i change w4?

I got married in Dec 2006 and my spouse is not working. should i change w4? also my mother is a dependant staying with me. am i eligible for a tax refund?I got married in Dec 2006 and my spouse is not working. should i change w4?
yes, yesI got married in Dec 2006 and my spouse is not working. should i change w4?
You could add one allowance to your W-4, and change it from single to married.





There are a number of rules in order to claim your mother in addition to the fact that she's staying with you. Be sure that you meet all of them.





No way to tell from the info you give whether you'll get a tax refund. It depends on what your total tax is, and on what you had withheld for federal income tax. I'm not sure you understand just what a refund is. Through the year you might have money withheld from your paycheck for federal income tax. At the end of the year, you prepare a form called a tax return to calculate how much tax you owe total for the year, and compare that to what was withheld. If you had more withheld than your total tax, you get the extra back as a refund. If you didn't have enough withheld, you have to pay the rest rather than getting a refund.





A refund isn't some sort of bonus the government gives you for working. It's like if you went to WalMart and bought $16 worth of items, but gave the cashier a $20 bill. You'd get a ';refund'; of $4, but it's not them giving you something, it's just getting your own money back.

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