[MBAtarga]

Decrease the number of exceptions on your W4 with your employers. It's likely you have 2 or more listed - as well as your wife. That's like claiming 6 dependents on your 1099. For one of your wife's full time jobs - she should probably claim 0 exemptions. There are numerous on-line calculators available - at least one on the IRS site - that will assist in determining how many exemptions you should claim based on your income, deductions, past tax liability,etc. I know because we are going through this same exact issue now.