USA Taxes - First year.

[bradcanuck 1]

This is the first year (2008) I will be filing taxes. I am trying to fill out my W-4 from my employer and I don't quite understand.

I am married, and I want to file jointly. Which options do I choose in the credits/withholdings/worksheet area? I so far have only "1" as my total.

I am a bit lost, and every website I read is way over my head. I just don't get how these taxes work?

[Chica Yeyé 41]

This is the first year (2008) I will be filing taxes. I am trying to fill out my W-4 from my employer and I don't quite understand.

I am married, and I want to file jointly. Which options do I choose in the credits/withholdings/worksheet area? I so far have only "1" as my total.

I am a bit lost, and every website I read is way over my head. I just don't get how these taxes work?

What I did is the same as you, but claimed 2 exceptions. This is kinda crazeee, I know.

[bradcanuck 1]

This is the first year (2008) I will be filing taxes. I am trying to fill out my W-4 from my employer and I don't quite understand.

I am married, and I want to file jointly. Which options do I choose in the credits/withholdings/worksheet area? I so far have only "1" as my total.

I am a bit lost, and every website I read is way over my head. I just don't get how these taxes work?

What I did is the same as you, but claimed 2 exceptions. This is kinda crazeee, I know.

The IRS website says I can mark line 5 as 0 and manually withhold. I am almost thinking that is the best route.

[eric&gen 0]

Be ready to bend over Uncle Sam will get you he ain't m Uncle lol cheap #######.

[Nikita2Charles 33]

Each situation is different

There are several factors to take into consideration when filing your W4.

Do you have a mortgage

Children

Those 2 important factors can help you determine how many exemption you can claim, and also your current financial need

In the sense

Are you good at budgeting : if so then you can claim more exemptions knowing you won't get much of a refund at the end of the year, so uncle same doesn't have to hold your money interest free

The interest paid on your mortage, the property taxes those are tax deductible deductions, if you give out donations save those receipts they'll be helpful at tax time, If you give out to charity, churches save those receipts or copy of the checks.

IF a little bit spenthrift and not good at financing, you can set your exemption to Married and Zero as such you will pay more taxes now and get a bigger refund later

Disclaimer:

Not a CPA just an average Joe sharing his own experience.