Two Incomes and Form W-4

Q. How do I complete the Form W-4 if my spouse is working or out of the country or retired?

A. Keep in mind that what I can discuss here is very general due to the nature of the question. The Form W-4 as mentioned before is the road map your payroll department uses to calculate your withholding correctly. A good rule of thumb is that if you claim an allowance on the W-4, your spouse cannot claim that same allowance. For instance, if you are married and put a “1″ in box A, then your spouse cannot Read more »