How many allowances do I claim on my W-4 if I am a new father.?

Question

I am filling out my W-4 because I heard that one should change it when he or she has children to reflect it accordingly...

I don't know what to put for my allowances. I know that dependents are not considered allowances and it does not neccessarily have to be the number of children you have but if anyone could help me with a general idea as to what to put I would appreciate it.

I work full-time and make about $19,000 a year and my son was born two weeks ago. I am supporting him and his mother until she can go back to work (about a month from now.)

I did not work last year but have generally never recieved any tax refunds. Most of the time I had to pay.

I go to school part-time and I don't know if that matters on the W-4. I don't really have to have a large refund, I just want to know what is best for the time being. I am kind of tight on money right now. So please, once again, the question is what number should I file on my federal allowances?

Thank you.

Answer 1

You can claim one for yourself - don't claim an allowance for your wife since she'll be working and presumably claiming herself.  One of the other of you, but not both, can add 3 allowances because of the child, since you'll get a child tax credit for him.

Enjoy that baby!

Answer 2

if u clam 0 on your w4 they will take more out ur check on pay day, but u will get a larger refund!  if u claim u and ur son then u will get more on each check!  it all depends on how u need ur money!  hope that helps

Answer 3

You should follow the worksheet on the W-4.  That will give you the "best guess" if you want the taxes taken out of your paycheck to closely match what you ought to owe.

You should claim either "4" or "5":

1 for yourself (line A)

1 for your spouse (line C)

2 for your child (line G)

You could enter a "1" for line B if you want, since your wife is not working right now, but that means that come next April, you will probably owe more than what was withheld.

Have whomever makes more money take the child claims on thw W-4.

Come tax time, figure out your taxes both individually and as married filing jointly to see which way causes least tax liability.