What is the name of your state (only U.S. law)? NJ
I will be divorcing this year. I am currently filing married/joint, but have custody of the two children and will switch that over to head of household. My w4 is currently still married - when should I switch over to single to avoid significantly underpaying? I anticipate the divorce will finalize sometime in late summer.
I'm in crunch mode financially right now, but would it be in my best interest in the long run to forgo the extra income now in favor of reducing my tax burden when I file for 2009 next year? I'm assuming that if I file "single" or head of household, the IRS will apply that status to the entire year and there's no way to distinguish otherwise.
btw - I do pay estimated federal and state taxes every payday, to avoid penalties if I ever am underpaying so that issue should not be a concern.
I will be divorcing this year. I am currently filing married/joint, but have custody of the two children and will switch that over to head of household. My w4 is currently still married - when should I switch over to single to avoid significantly underpaying? I anticipate the divorce will finalize sometime in late summer.
I'm in crunch mode financially right now, but would it be in my best interest in the long run to forgo the extra income now in favor of reducing my tax burden when I file for 2009 next year? I'm assuming that if I file "single" or head of household, the IRS will apply that status to the entire year and there's no way to distinguish otherwise.
btw - I do pay estimated federal and state taxes every payday, to avoid penalties if I ever am underpaying so that issue should not be a concern.
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