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  #1  
Old 12-18-2007, 09:37 PM
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W-4 Deductions

What is the name of your state? NY
Hi, My wife is pregnant and is due before Jan 1st...
Can I claim the yet unborn child as a dependent on my W-4 form?
  #2  
Old 12-18-2007, 10:02 PM
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A W-4's purpose is to help have the correct amount of taxes taken out for when you file your taxes. It is NOT something that is filed with the government.

Here is a calculator that can help you figure out what to set your W-4 at:
http://www.irs.gov/individuals/article/0,,id=96196,00.html
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  #3  
Old 12-18-2007, 10:30 PM
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Quote:
Originally Posted by Raffman View Post
What is the name of your state? NY
Hi, My wife is pregnant and is due before Jan 1st...
Can I claim the yet unborn child as a dependent on my W-4 form?
With 2.5 weeks left in the year...what difference would it really make?
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  #4  
Old 12-18-2007, 10:53 PM
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Quote:
Originally Posted by Zigner View Post
With 2.5 weeks left in the year...what difference would it really make?
X-mas bonus?
  #5  
Old 12-19-2007, 04:28 AM
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Originally Posted by Ozark_Sophist View Post
X-mas bonus?
A little extra on the last paycheck to help with Xmas?
  #6  
Old 12-19-2007, 12:43 PM
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It tends to be more of an education thing with folks, who think that they can only have on a W-4 that which is claimed on the taxes. They don't understand the what-fors of them.
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  #7  
Old 12-19-2007, 03:01 PM
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Quote:
Originally Posted by Zigner View Post
With 2.5 weeks left in the year...what difference would it really make?
I'm talking about next jan (she is due in Aug)
  #8  
Old 12-19-2007, 03:05 PM
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The only danger to starting in Jan with a lower amount is if the wife loses the baby. Use the IRS website calculator to determine your settings. It also helps if there are two workers (you and wife).
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  #9  
Old 12-19-2007, 03:22 PM
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Child Exemption

If the child is stillborn, no dependency exeption is allowed. If it lives a few moments after birth (under state law) then the exemption is allowed. Gosh, this is happy holiday chat.
  #10  
Old 12-19-2007, 03:31 PM
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Quote:
irsos If the child is stillborn, no dependency exeption is allowed. If it lives a few moments after birth (under state law) then the exemption is allowed. Gosh, this is happy holiday chat.
Which is why it is probably better to wait until the happy event to change W-4 exemptions.
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  #11  
Old 12-19-2007, 04:33 PM
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Given the US infant mortaility rate, I would not worry about losing the child unless the mother has a history of miscarriage.
  #12  
Old 12-19-2007, 07:33 PM
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Originally Posted by irsos View Post
Given the US infant mortaility rate, I would not worry about losing the child unless the mother has a history of miscarriage.
I have to disagree with that. I have had multiple clients over the years who made withholding errors based on the expectation of a child that was unfullfilled. Its simply safer to get a larger than normal refund the year that the child is born. Otherwise you risk doubling the pain. The pain of the loss plus the pain of financial problems later.
  #13  
Old 01-05-2008, 08:12 PM
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w-4 question

Hello, I recently changed my w-4. I added some deductions to increase my take home pay. I'm concerned because one of the lines said something like "add one if you're planning on claiming someone as a dependent." I added the one, but i'm not claiming anyone as a dependent. Is this illegal?? Should I change it?
  #14  
Old 01-05-2008, 08:21 PM
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The purpose of the W-4 is to control how much is taken out of your paycheck so that enough is taken out to cover your tax obligation.

If you want to know what to set it at, check out the IRS withholding calculator:
http://www.irs.gov/individuals/article/0,,id=96196,00.html
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