The 2010 tax tables have not yet been published, but they are expected to be either the same or very close to the 2009 tables, so I will base my answer to you on the 2009 information.
If you will have total income for the year from your salary and interest of $102,500, then after applying your standard deduction of $11,700 as a married couple, plus two personal allowances of $3,650 each, this will give you taxable income for the year of $83,500. Your estimated federal tax liability on that amount will be $13,250.
If you fill out your W-4 form as married with 2 allowances, they would withhold approximately $13,000, which means you would owe another $250 at the end of the year. If you fill out your W-4 form as married with 1 allowance, they would withhold approximately $13,912, which means you would get a refund for approximately $662 at the end of the year.
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