W4 editing question

[Goldy]

We got a pretty large refund this year of just under 5k so we started looking into changing our witholding to limit the refund for next year. I used the IRS calculator and it said that we should still claim 0 but have the company take less out per paycheck. Is there a set dollar amount difference between claiming 1 vs 0? There are a lot of estimates that went into the IRS calculator so I'm not sure what to do. Maybe just set the wife's witholding to 1 and see what it does and then go from there.

[disneysteve]

Well, to look at it simply, $5,000/year is about $96/week. So if you expect your situation to be the same for 2013, having an additional $96/week withheld would have you break even. If you want to avoid overshooting the mark and owing money, pick a lower number like $80 or $75. That way you'll probably still get a small refund but not nearly as much.