-My annual salary is $54,000.
-I am married filing jointly.
-I have a working spouse whose salary is $30,000.
-I live in the state of Texas.
I want to claim myself, and only myself, as a dependent on my W4.
What are the replications if I do? Do I end up owing a lot taxes come April 15?
You can dlaim an allowance for youself – that is NOT climing youself as a dependent. They'll probably withhold around the right amount of tax, plus maybe a little more.
You cannot claim yourself "as a dependent". A "dependent" is someone whom you can claim who is not you and is not married to you.
If your spouse is claiming 0 (zero) allowances or 1 (one) allowance, then you can claim 1 allowance.
If your spouse is claiming 2 or more, then you should not claim any.
You might. With two incomes, best bet is to do 0
actually this is appropriate for your situation and depending on how the wife files you should probably come out reasonably even
Your withholding would be more and your refund would be larger if you claim just yourself.
You will have to send in a check.