To properly adjust W-4s for married filling jointly with two jobs and a side gigs, you need to make sure your combined withholding covers all your tax liability, including the extra tax owed on the side gig which usually doesn't withhold taxes automatically to both the IRS and state.
Use the IRS Withholding Estimator Tool (https://www.irs.gov/individuals/tax-withholding-estimator)
You'll need:
1-Paystubs from both W-2 jobs
2-Estimated net income from side gig (after expenses).
Number of dependents
3- Whether you itemize or take the standard deduction
Fill out the W-4 for both W2s by entering basic information, enter number of W2, claim your dependents $2000 per child, enter investment, rental income, dividend etc., enter standard or itemize deduction and finally enter extra withholding to cover the side gig using the IRS link above.
For the side gig you may also choose to make quarterly estimated tax payment for both the IRS and the state tax authority.
Please note, only one spouse should claim dependents on the W-4. Extra withholding is better than estimated payments if you want it automated.
It is important to recheck your W-4s anytime your income changes.
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