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Tax related--we're married filing jointly. Just had our first child. Are there any accountants out there who can direct me to info regarding how having a child affects taxes & withholdings? Is there a reader friendly publication available?

Just looking for a reader-friendly article or publication that gives me all the info i need regarding 09 tax filing and changing my w4 w/ my employer? Both my spouse and I should change our w4s? I am back to work part time. Was full time prior to giving birth. THANKS!

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tenner14

Asked by tenner14 at 12:54 PM on Aug. 27, 2009 in Money & Work

Level 1 (0 Credits)
Answers (3)
  • Depends. You can change your W4 and claim her-you will get back more money per paycheck now-or claim 0 and get more back at tax time.

    I would go to the IRS site.
    Anonymous

    Answer by Anonymous at 1:01 PM on Aug. 27, 2009

  • The IRS documents are pretty clear, actually.

    Go to www.irs.gov and download the W-4 form, and change your deductions.

    You can ALSO leave it as it is, and then get a refund. I claim Married 1 on my form to ensure that we get the right amount of taxes withheld, especially since I work a second job on a 1099 basis.
    gdiamante

    Answer by gdiamante at 1:42 PM on Aug. 27, 2009

  • There is only one way to get accurate free advice. Call the IRS 1-800-829-1040 - Hours of Operation: Monday – Friday, 7:00 a.m. – 10:00 p.m. your local time (Alaska & Hawaii follow Pacific Time).
    rkoloms

    Answer by rkoloms at 1:47 PM on Aug. 27, 2009

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