topic Tax withholding with two jobs in Get your taxes done using TurboTax

Tax withholding with two jobs

Rellalicia — Thu, 03 Oct 2019 17:42:37 GMT

Good Afternoon,

I work two job, currently the withholding from my second job is at zero, I make $800-$1000 per month.

For my fill time job I was making around 38,000 and had my withholdings at 2

Now I have been promoted and the pay is significantly higher.

I am wondering would it make sense to change my fulltime job withholdings to ZERO

and the part-time withholdings to two or three.

I dont know if any of this matters, i just dont want to owe next year and would like some opinions

Re: Tax withholding with two jobs

xmasbaby0 — Thu, 03 Oct 2019 22:02:49 GMT

You have told us nothing else about yourself -- not even your filing status. All we know is that now you make more money than you used to make. Try using the taxcaster tool and the IRS W-4 calculator.

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

https://www.irs.gov/individuals/tax-withholding-estimator

Re: Tax withholding with two jobs

VolvoGirl — Thu, 03 Oct 2019 22:57:16 GMT

You said withholding is zero. Do you mean the withholding taken out was $0 or 0 allowances? If anything I think you would want more withholding taken out of the job that makes more.

It doesn't matter which job the withholding comes out of just as long as it's enough to cover the tax on all your income combined.

Re: Tax withholding with two jobs

Rellalicia — Thu, 03 Oct 2019 23:24:30 GMT

Yes I meant my allowances was zero for the second job.

but that is what I was wondering if it mattered which one was at zero.

THANK YOU.

Re: Tax withholding with two jobs

VolvoGirl — Thu, 03 Oct 2019 23:51:29 GMT

Yes it matters. The higher paycheck will have more taken out for zero than the small paycheck. You want to have the most taken out for taxes. When you have 2 jobs the tax is more for both incomes combined. So the withholding on one job won't cover both.