+6 votes
by (230 points)
My tax return is WAY too big. Getting almost 5k back and I have a family of 5 (husband + three kids). Every time I try to use the federal calculator to determine my withholdings I get frustrated. I’m done giving the government a tax free loan. My husband claims married and three and I claim single and one (old tax advice from when my husband was self employed) and I was hesitant to switch because of new tax laws but I’m still not correct. Any advice?  
My tax return is WAY too big.

3 Answers

0 votes
by (3.8k points)
$5k is fine. You could opt to max allowances and pay estimated taxes every quarter  This will keep you on “offense” with respect to minimizing tax liability and looking for legal ways to reduce that liability.  
+6 votes
by (8.3k points)
Who are your payroll checks run through? I used the ADP withholding calculator this year because my wife and I have a significant disparity in income that was screwing us up. Their calculator and extra withholding worked just about perfect and we’re getting $50 back this year. I’d see if your payroll service has a similar option.  
by (230 points)
@iconostasis23 that’s who we use! I will definitely look into this. Thanks so much
+1 vote
by (4.6k points)
Try the new W-4 form. I believe it’s more accurate than the old one.  
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