Tax Question for the married folks

Tax Question for the married folks

ok..so I just got married 2 weeks ago (go ahead, clap ur hands and tell me my life is over..lmao).

My question is, do we have to change the info on our W4 form? People say they leave it at 1 and then change it to 0. some leave it at 0, etc. and do we both have to do it or is it just one of us? This whole thing has me confused...lol. I don't see why people change it from 1 to 0 and vice versa.

Oh and combining our cars on my insurance was the best thing I've done so far. Insurance only went up 70.00. I just saved myself $600.00 by getting married..lol.

bump...

forgot I posted this and its almost a year later. I left my exceptions the way it was but I never changed to married or married but withhold at a higher single rate.

We plan on filing separately but we can't figure out which one to choose to change it for 2007. I've read up on it but its just not clickin to me.

Also, when filing for taxes for 2006, should I do it as single (as stated on my pay stubs) or should I do married but filing separately?

i'd say married but filing separately (single for the previous year), technically you get more if you file single but if if the IRS finds out its you're ass, and you would wined up paying in penalty fees and other charges, and in the following years they will automatically withdraw whatever is owed. The majority also depends on the State, with my customers from VA we never really had any problems, it was just mainly trying to figure out who was claiming the children if separated. Let me know what you choose and ask if you need more info.

i did this married and learned even more when i became a tax associate before i enlisted.
www.myspace.com/rardz contact me there or my personal e-mail at rurodriguez214@yahoo.com if you have more questions.