If you are getting a refund at the end of the year and you would rather have that money in your paycheck instead, then use a calculator to figure out the adjustments to make on your W-4.
The best way to fill out the current version of the W-4 is to use the TurboTax W-4 Calculator or the IRS Tax Withholding Estimator. Both of these tools will ask you for information from your most recent pay stubs (to get year-to-date information) as well as what you expect to happen with your paychecks for the rest of the year.
You'll enter information for your jobs, the number of dependents that you have, whether you have any other income or deductions, etc. Then the program will provide you with the information necessary to fill out the W-4s for each job -- or even a PDF version that you can give to your employer.
But, if you are owing money at the end of the year, then you don't want to make an adjustment that would reduce your withholding even more. There are penalties for not paying enough in taxes throughout the year -- on top of having to come up with a larger sum of money when you file your tax return.
As xmasbaby0 said above, you can't claim Head of Household unless you have a qualifying dependent. Making that change on your W-4 would increase your take-home paycheck. BUT -- it could result in a much larger balance due on your tax return.
The calculators will help you come to the best answer for your W-4: one where you maximize the money you take home and minimize your balance due at the end of the year.
Thank you for participating in this event!
-- KimberW
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