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Adjunct Work and Witholding

Hello! My wife and I both work full time in education at local school districts, and I work as an adjunct instructor at a college on the side. Our school district pay is predictable and mostly stable, with a few small "bonuses" from time to time. My adjunct work, however, varies from semester to semester and can be anything from an extra month's worth of pay to almost 10k per semester. The adjunct work does not withhold for federal taxes, but does deduct for social security, medicare, and TRS (Texas teacher pension).

 

Should I be making quarterly tax payments, or withhold from my paychecks to avoid owing taxes due to my adjunct income? Which job should I withhold from? Obviously this is a broad question, but any guidance is appreciated! 🙂

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Accepted Solutions
KatherineS63
Employee Tax Expert

Adjunct Work and Witholding

If you are owing money, the government(s) do not care if it comes from one source of income or multiple so sometimes you can just pick one source and have all the money come from that one source.  For example, if you have multiple employers or retirement accounts,  pick only the ones you want withholdings to come out of for federal.

Then look at these links to learn what a W4 looks like and how to fill one out.

 

How to fill out a W4  Instructions on how to fill out a W4

W4 calculator  Use to help fill out a W4

Form W4  Actual W4.  Line 4c is where you would add extra withholdings from each check.

 

Once you have filled out the W-4, then in a few months use the links below to do a tax estimator.  This will tell you how much you might owe after making the changes.  You can do a tax estimator several times per year.  If you have changed your withholdings mid year, you will want to see that you keep owing less as the year goes on.

 

IRS Tax estimator This is a tax estimator that will time out so enter and print findings all at one sitting.

TaxCaster  This is another tax estimator that will time out so enter and print findings all at one sitting.

 For state withholdings, it is hard to find a tax estimator for each state but they will have a state withholdings form that you can fill out.  

 

If you don't want to have a steady withdrawal for federal taxes, since you might make zero to $30000, then do the tax estimator every quarter and then if you are owing something, make a few estimated payments.  You can make a quarterly payment by going to IRS.gov/payments.

 

I hope you find this information useful.  

 

Katie S

KatherineS63

View solution in original post

3 Replies

Adjunct Work and Witholding

To put it more clearly, I could potentially make anywhere from $0.00 to $30k from my adjunct work each year, so I don't know the best strategy to deal with this 🙂

KatherineS63
Employee Tax Expert

Adjunct Work and Witholding

If you are owing money, the government(s) do not care if it comes from one source of income or multiple so sometimes you can just pick one source and have all the money come from that one source.  For example, if you have multiple employers or retirement accounts,  pick only the ones you want withholdings to come out of for federal.

Then look at these links to learn what a W4 looks like and how to fill one out.

 

How to fill out a W4  Instructions on how to fill out a W4

W4 calculator  Use to help fill out a W4

Form W4  Actual W4.  Line 4c is where you would add extra withholdings from each check.

 

Once you have filled out the W-4, then in a few months use the links below to do a tax estimator.  This will tell you how much you might owe after making the changes.  You can do a tax estimator several times per year.  If you have changed your withholdings mid year, you will want to see that you keep owing less as the year goes on.

 

IRS Tax estimator This is a tax estimator that will time out so enter and print findings all at one sitting.

TaxCaster  This is another tax estimator that will time out so enter and print findings all at one sitting.

 For state withholdings, it is hard to find a tax estimator for each state but they will have a state withholdings form that you can fill out.  

 

If you don't want to have a steady withdrawal for federal taxes, since you might make zero to $30000, then do the tax estimator every quarter and then if you are owing something, make a few estimated payments.  You can make a quarterly payment by going to IRS.gov/payments.

 

I hope you find this information useful.  

 

Katie S

KatherineS63

Adjunct Work and Witholding

Thank you so much!!! 🙂

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