Sunday, August 22, 2010

My husband and I are closing on a home. Should we each change our tax status from Single 1 to Married with 3?

My husband and I are closing on a home. Should we each change our tax status from Single 1 to Married with 3 allowances? We are not sure how to determine how many allowances we can have. We do not want to end up owing the IRS in April. Should we make an appointment with an accountant to alter our W-4s to be certain?My husband and I are closing on a home. Should we each change our tax status from Single 1 to Married with 3?
Married couple's allowance was abolished in April 2000.My husband and I are closing on a home. Should we each change our tax status from Single 1 to Married with 3?
no you both don't want to claim the same exemptions- but you should have changed it to married by now. go see your accountant.
Yes please go see a accountant, a house does not count as a dependent .

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