OpeA1
Expert Alumni

Get your taxes done using TurboTax

Hello!

 

Well, congratulations on landing a new job s fast!

 

Maxing out the 401(K) is a great move to reduce the amount of taxable income at year end.  If you own a home, then you can take the property taxes, interest as deductions, as well as donations, etc. Here is a list of other deduction allowed by the IRS: https://www.irs.gov/credits-deductions-for-individuals 

 

Regarding the W-4 withholdings, I suggest you use our free tax calculator to estimate your withholdings and based on your findings, you can make estimated payments directly to the IRS or increase your withholdings by filling out a new W-4 and increase it in #4, by amount.

Here is the link to our free tax calculator: https://turbotax.intuit.com/tax-tools/calculators/w4/ 

 

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