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Tax Law (Questions About Taxes)/determining number of personal exemptions


Hi Adam!  I am 61yrs old professional in Detroit MI earning approximately $70,000/yr.  I have always filed joint return/head of household with nonworking spouse [2 personal exemptions].  Recently my wife died (Nov2012).  Beginning with the 2013 tax year, I want to know if [1] I should change my personal exemptions for federal, state, and local taxes, and [2] if so, how many exemptions should I claim.  

My goal is to minimize the amount of money held by the tax authorities, so that I have more of the money each pay period rather than getting it back in my tax return.

Thanks for your suggestions!

I am sorry to hear that.  Exemptions are always a tough question because there are so many factors @ play.  Your taxes @ $70K as single vs married are going to be more.  I would adjust your withholdings to single with 1 exemption.  It is possible that you could still claim 2 exemptions (if you work through the exemption worksheet attached to the W-4 and that is what you get to).  However, I'd still tend to lean single with 1 exemption for 2013.

Tax Law (Questions About Taxes)

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Adam Shay, CPA


I have an expertise in individual income tax and income tax planning. I also have experience working with small businesses (variety of entities) on both income tax and accounting needs.


I have spent 5 years managing 15 franchised tax locations. For the past 6 months I have owned my own tax preparation and accounting firm the specializes in assisting small business and more complex individuals. Accountant Wilmington NC


MBA from the University of Maryland BS from the University of Virginia

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