Today TaxMama® hears from Shauna in the TaxQuips Forum, with this news. “I just found out that I was pregnant and my baby is due in October. Would it be smart to add my unborn child to my W-4 now? Also which would I come out better doing, claiming head of household or just single (because I am a single parent)?”
Mike Reed, EA in California congratulates you on the expected arrival!
Mike says, you can change your W4 withholding certificate with your employer at any time. The IRS has a handy link to a withholding calculator.
As for filing Head of Household or Single, HOH is always better if you qualify.
TaxMama adds that Mike is right about the withholding. However, please be careful and run the numbers to see what your taxes will be. It will be a hardship if you have reduced your withholding too much and have to pay in April.
Take care of each other. This will be an adventure.
And remember, you can find answers to all kinds of questions about filing statuses and other tax and business issues, free. Where? Where else? At www.TaxMama.com.[Note: If you were subscribed to the e-mailed version of TaxQuips, you’d be getting other exciting news and tips by e-mail, that never appear on the site. Please click on the join TaxMama.com link – it’s free!]
Please post all Comments and Replies in the new TaxQuips Forum .