topic Tax payment in Get your taxes done using TurboTax

Tax payment

Didi66 — Tue, 10 Mar 2026 05:11:36 GMT

To reduce my tax payment, should I increase my withholding for my 401K or change my W-4?

Re: Tax payment

Critter-3 — Thu, 09 Jun 2022 22:01:16 GMT

Either or both your choice.

Re: Tax payment

NCperson — Thu, 09 Jun 2022 22:32:31 GMT

@Didi66 however, if you adjust your W-4, then each dollar withheld for federal will reduce what you owe on April 15th by the same dollar,

but if you contribute more to your 401(k), then each dollar contributed will only reduce what you owe on April 15th by your marginal tax rate (probabably 12 cents to 22 cents for each dollar contributed)