https://boards.hellobee.com/ Pregnancy, Baby and Parenting blog, by Hellobee en Wed, 08 Apr 2026 02:39:44 +0000 https://boards.hellobee.com/topic/what-do-you-withhold-on-your-paycheck-2-and-daycare#post-2476882 Sat, 27 Feb 2016 09:30:08 +0000 Mrs D 2476882@https://boards.hellobee.com/ <p>I do m-1 and Dh does m-2.</p> <p>We have decent deductions (mortgage interest, prop taxes, 401k contributions) plus I do $5k for daycare. We got $2k back this year. </p> https://boards.hellobee.com/topic/what-do-you-withhold-on-your-paycheck-2-and-daycare#post-2476863 Sat, 27 Feb 2016 08:57:36 +0000 MrsH 2476863@https://boards.hellobee.com/ <p>DH and I both do S-0. </p> https://boards.hellobee.com/topic/what-do-you-withhold-on-your-paycheck-2-and-daycare#post-2476861 Sat, 27 Feb 2016 08:55:06 +0000 Dr. Pepper 2476861@https://boards.hellobee.com/ <p>We have 1 kid in daycare full time. We did M-0 this year and owe $4,400. We will have one more kid this year, so we are leaving it the same and hope it works out better next year. :( </p> https://boards.hellobee.com/topic/what-do-you-withhold-on-your-paycheck-2-and-daycare#post-2474225 Thu, 25 Feb 2016 11:46:04 +0000 Adira 2474225@https://boards.hellobee.com/ <p>@runnerd: I haven't done our taxes yet, so I'll have to let you know, but we didn't last year. </p> https://boards.hellobee.com/topic/what-do-you-withhold-on-your-paycheck-2-and-daycare#post-2474205 Thu, 25 Feb 2016 11:43:38 +0000 runnerd 2474205@https://boards.hellobee.com/ <p>@Adira: do you get a big refund? </p> https://boards.hellobee.com/topic/what-do-you-withhold-on-your-paycheck-2-and-daycare#post-2474193 Thu, 25 Feb 2016 11:41:29 +0000 Adira 2474193@https://boards.hellobee.com/ <p>M-0 </p> https://boards.hellobee.com/topic/what-do-you-withhold-on-your-paycheck-2-and-daycare#post-2474176 Thu, 25 Feb 2016 11:37:02 +0000 runnerd 2474176@https://boards.hellobee.com/ <p>@MamaG: taxes confuse me! I don't see why you would still do M-1 since your taxable income is lower - wouldn't it all wash out?</p> <p>We do Roth deferrals, so HSA and medical premiums are only taxable income reductions </p> https://boards.hellobee.com/topic/what-do-you-withhold-on-your-paycheck-2-and-daycare#post-2474139 Thu, 25 Feb 2016 11:24:34 +0000 MamaG 2474139@https://boards.hellobee.com/ <p>I think it depends a lot on your other pre-tax deductions as well. For example I do M-1, but I have $5K withheld for daycare, $2K for medical flexible spending, $18K for 401K, plus some other smaller amounts. These all significantly reduce my pre-tax income. Also, we pay a marriage penalty in that DH's income is about 1/3 of mine. </p> https://boards.hellobee.com/topic/what-do-you-withhold-on-your-paycheck-2-and-daycare#post-2474120 Thu, 25 Feb 2016 11:19:09 +0000 runnerd 2474120@https://boards.hellobee.com/ <p>What do you claim for your paycheck tax withholding if you both work full-time, have 2 children, and both are in full-time daycare.</p> <p>With 1 LO, we did M-1 and got about $1k return (granted we only owned a house about 1/2 the year, so if nothing else changed, it would probably be higher this year). We don't want to get more than that overfunded on taxes. I was thinking of changing mine to M-2 or M-3. When I do the worksheets it recommends M-7 which seems like that can't be right! </p>