married and expecting baby - taxes?

my wife and i just got married on march 8th and are expecting a baby in late november/early december.
she makes about $1100 gross each month and i make about $2500 gross each month which puts us at about $47,000 when filing "married, joint filing" for 2001.
i'm afraid that with the marriage tax "penalty" we will end up still oweing even though we're having a baby (aka tax break). i just changed my W2 deduction from 1 to 2 in the hopes that it will help. what can my wife and i do to try and not owe anything (or as little as possible) when we file in 2002 for tax year 2001? (i'm in ohio.)

The following link is to the IRS withholding allowance calculator on the Internet. You will find the worksheets and instructions you need to calculate the right amount and determine what should be withheld:
[url]http://www.irs.ustreas.gov/prod/ind_info/webw4/index.html[/url]

I appreciate the reply. It is difficult for me to know where to find the info I need and sometimes what to even look for.
cheers
palandor