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New Member
posted Jul 10, 2023 8:28:09 PM

I recently graduated from school and have increased my annual income. I need help on calculating if my current deductions are sufficient or if I need to increase? Thanks!

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2 Replies
Level 15
Jul 10, 2023 9:18:09 PM

Do you mean the tax that is withheld from your pay? Use the Tax Withholding Estimator on the IRS web site to figure out what to put on the W-4 form that you give to your employer. It will show you how to adjust your withholding to get the approximate refund amount that you want.

 

Level 15
Jul 11, 2023 3:14:17 AM

you can also use this website to estimate your tax return for 2023 

 

https://www.dinkytown.net/java/1040-tax-calculator.html