I have 3 part-time jobs, all pay relatively the same. On all 3 W4s, I claim 0 allowances. What impact does this have?

Forum|Forum|5 years ago
September 23, 2020
6 replies
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*I live in NJ* and I have 3 part-time jobs all paying between $13 - $18 an hour. On all my NJ-W4s (State of New Jersey - Division of Taxation Employee’s Withholding Allowance Certificate) for the jobs, I claimed 0 (zero) allowances on since I was confused by the calculations on the multiple jobs worksheet. I am filing single, claim no dependents, and filled out the federal W4 form (yes I had to fill out both a federal and the NJ State w4s) Steps 3 and 4 with all $0.00 (no deductions and no extra withholdings). How will this impact my tax return? What about my paychecks?

Thank you for the help in advance.

Not A Product Question

VolvoGirl

Level 15

You pay tax on your total income for the year no matter how many jobs you have. Each job is holding out the amount for that one job like it's the only job you have. But when you have more than one job (W2) the total income for all all might put you into a higher tax bracket. So you may end up short for the year. Claiming Single and 0 should work out ok.

VolvoGirl

Level 15

Try this, Here's the link for the current TaxCaster tool:

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

VolvoGirl

Level 15

Or this one. Next year W4 estimator

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

rjs

Level 15

The new W-4 form for 2020 and later doesn't use allowances anymore, so you no longer "claim 0 allowances" or any other number of allowances. The new form works differently. Use the Tax Withholding Estimator on the IRS web site to figure out what to put on your W-4 forms. It will let you adjust your withholding to get the approximate refund amount that you want.

Tax Withholding Estimator