W4 Entries to best save on Tax payments (anar1826)

Forum|Forum|4 years ago
July 27, 2022
1 reply
10 views

Me and my husband are both working, and have two kids (18 and soon-tobe-15). What is the right number to give in W4 form so that we can avoid paying hefty tax amount at the end of the tax year.

SoCalGal22

Level 5

Hi anand_v

I find the TurboTax W-4 Calculator 2022 easier to use, and it will put in the best solution for you:

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

Use this tool to:

Estimate your federal income tax withholding
See how your refund, take-home pay or tax due are affected by withholding amount
Choose an estimated withholding amount that works for you

Results are as accurate as the information you enter.

What you need:

Paystubs for all jobs (spouse too)
Other income info (side jobs, self-employment, investments, etc.)
Most recent tax return.

I hope that answers your question about gift tax and reporting. Please feel free to give TurboTax a call anytime if you have additional questions or need assistance.

Have a great day!

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