Thanks
@DanielV01 My spouse is expected to earn the same amount as that of last year $25000 per year, as he is a student and can only work 20 hours per week.
I started my job and had to the left job due to COVID last year and ended up earning only $3000 per year.
This year I am starting the job now and expected to continue for the whole year, I am expected to make $1920 per month.
we have to file our taxes MFJ.
Please let me know if we need to change anything
instructions for filling out a "break even" W4:
Step 2: Check off Box "C" if you only have these 2 jobs and they are both W2 jobs (ie - he does not get paid via 1099)
Step 3: ZERO on all 3 lines
Step 4: Since your Federal Income Tax plus FICA (SS & Medi) will be a total of approximately $3,666 (calculation from a tax tool found
here Figuring Your Total Tax Federal and FICA ) , you do not need to withhold too much, therefore I would recommend you
do the following:
4(a) - ONLY if both jobs are W2, enter ZERO. If husband's job is 1099, that will be your call on this line.
4(b) - THIS LINE IS OPTIONAL AND NOT A "you'd better be exact" as this W4 is yours! So, enter as if you were not
taking the SD but Itemizing, even though you're not, this is only for calculation purposes for your employer's HR
department. For your tax situation, I would recommend you enter $25,000 here and this will give you more in
your paycheck, less of a refund, but still a refund and you won't owe.
4(c) - ZERO
