Hi All,
My wife and I got married in 2016 and didn't fill out the multiple earners section of our W-4. As a result this year we owe about 3k filing jointly. So now I am updating the W-4 and completing the Multiple Earners and at the end (line 9) it results in the additional amount to be withheld from each paycheck. This number is $376. Now is that going to be deduced from each our our paychecks each pay period? If so, that seems substantial since we were only short 3k but we will need to pay $15,792 additional this year based on the extra $376. I looked back at my taxes when I was single in 2016 and my deductions in 2017 were greater than what they were then. So adding this additional $376/paycheck is going to increase my taxes substantially compared to when I was single, which doesn't make sense. Any thoughts? I've included our details below.
Her 2017 details are below.
Wages: 71743.6
Federal income tax: 8270.08
State income tax: 2289.54
No deductions.
My 2017 details are below:
Wages: 145,665.85
Federal income tax: 31,606.73
State income tax: 5,897.52
No deductions.
My wife and I got married in 2016 and didn't fill out the multiple earners section of our W-4. As a result this year we owe about 3k filing jointly. So now I am updating the W-4 and completing the Multiple Earners and at the end (line 9) it results in the additional amount to be withheld from each paycheck. This number is $376. Now is that going to be deduced from each our our paychecks each pay period? If so, that seems substantial since we were only short 3k but we will need to pay $15,792 additional this year based on the extra $376. I looked back at my taxes when I was single in 2016 and my deductions in 2017 were greater than what they were then. So adding this additional $376/paycheck is going to increase my taxes substantially compared to when I was single, which doesn't make sense. Any thoughts? I've included our details below.
Her 2017 details are below.
Wages: 71743.6
Federal income tax: 8270.08
State income tax: 2289.54
No deductions.
My 2017 details are below:
Wages: 145,665.85
Federal income tax: 31,606.73
State income tax: 5,897.52
No deductions.
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