What Should I Claim On My W4?

by Rex
(Lincoln, NE)

My wife and I are having our first baby in a couple weeks. I work full-time at a large fortune 100 pharmaceutical company. My wife works full-time at a small medical office.

I also work part-time as an adjunct instructor. I earn approx $65,000 at my full time job and approx $30,000 at my part-time adjunct teaching job. My wife earns approx $25,000 at her job.

We are both currently claiming 0 on our W4 for tax withholding. I want to know what we can change our W4 tax withholding to after our baby is here.

We don't want to have to pay in anything at the end of the year - but we want to bring home more to help with day care expenses and other fees that will be coming with our baby arrival.

We own our home and itemize each year. Can I claim 1 or 2 at both of my jobs (part-time and full-time) and can my wife do the same?

Thank you for your help!

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