I want to claim 7 allowances, my payroll manager said that was an awful lot. She would not offer any "adivse" or help to determine the number. So am I crazy? Perhaps someone out here can help me out…

I am filing jointly.
I make 000 with 00 annual bonus
My wife makes 000 with no regular bonus
No significant dividends, interest, etc.

Itemized Deductions:
000 Total Mortgage Interest for the year
00 Property Tax
0 Ad Volerum Tax (My State’s "Birthday" Tax)
00 State Tax
0 Charity
0 Car Loan Interest (does this even qualify?)
00 Business Mileage (this was reimbursed, do I still use it?)
00 Health Insurance (this may be pre-taxed?)
50 My 401K contribution (this may be pre-taxed?)
50 My Wife’s 401K contribution (again might be pre-taxed?)
No Children

I am guessing whatever the magic number is that I would do that only one W4, and would claim 0 on the other form…
In response to the third reply:

I was under the impression that deductions were most definitely revelant to Allowances you would claim. Is this not true? Isn’t the point to claim enough allowances so that you are very close to what you actually owe at the end of the year after deductions and credits.

Also, I was about 99% sure the Car Loan, Mileage, 401K, and Health Insurance did not qualify. I just wanted to check.

My wife and I are not eligible to use contributions to our Traditional IRAs as pre-tax deductions because we both have employer sponsored retirement plans. In the past year, my wife’s employer offerred a new Roth 401K which we changed her full contributions to so her entire 401K contribution is now after tax. Having said that, does that open the door to make tax deferred contributions once again to her Traditional IRA since only one of us has a pre-tax retirement qualified plan? Other than muni bonds or getting a business license, I’m pretty much out of methods to reduce my taxable income and am looking for any loopholes possible.