My wife and I file jointly, and have no dependents. We got hit with owing a lot last year. It's pretty obvious we need to adjust our W-4s.
She's a teacher. Her district just settled a contract dispute. Teachers in her district got raises, of course. She also received back pay in the form of a bonus.
I want to make sure I use the W-4 Calculator correctly. I run into a few problems when I do. The salary estimate never matches what er actually make.
Also, I want to make sure the bonus is treated correctly when I estimate. Would it be included in my salary, or added later, in the bonus blank?
I also had another issue that I saw after I filed. I don't know if this would have an effect on the amount owed. We did the estimator for Itemized vs. Standard deductions. It was determined that standard would be better, so we selected that. However, the return for 2022 has us itemizing our deductions. I am wondering if this would be something to look into. Thanks.
