Multiple Sources of income for household

[thebotkins1108]

Hello,  I am needing to know how to update or fill out a w-4 for both my husband and I. We each work one job and file our taxes as married filing jointly. We have one child, under 17, but do not have any child care expenses. I also received a bonus this year, but was taxed for that separately from a standard pay check. We have not filled out update W-4s for several years and would like to avoid paying in more taxes when we file for 2024. Thank you. 

[FranklinF]

• Gather ALL necessary information:

          -> Paystubs for all jobs (spouse too)

          -> Other income info (side jobs, self-employment, investments, etc.)

          -> Most recent tax return
 

• Use a W-4 Tax Calculator 
  W-4 Calculator 2024 

• Make Adjustments to your IRS Form W- as appropriate
  As stated in another post,

          -> Complete W-4 STEP 1 through STEP 5.

          -> You may choose to leave STEP 3 blank, if you would like more money to be withheld.

          -> It is strongly encouraged that married couples account for ALL jobs.

          -> If both spouses are employed, their W-4 should be filled simultaneously.

          -> COORDINATION is important as there are factors that should only be considered for one

               spouse’s W4, such as deductions and dependents.
                FILING JOINTLY  
                Employee’s Withholding Certificate 

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