MelodyB
Employee Tax & Finance Expert

Get your taxes done using TurboTax

Hi Beths0823,

 

It's always exciting when we get additional income but then you have to worry about the tax.

Since you will only receive the pension income for 6 months that's $10,800 of additional income.  You could look on your 2022 tax return to see what your tax rate is and then multiply it by the $10,800.  Then you could make estimated payments.  Or you could update your W-4 to just withhold an additional amount from each paycheck.  I am including our W-4 calculator which people find very helpful. 

 

https://turbotax.intuit.com/tax-tools/calculators/w4/

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