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antntbndl
New Member

Question regarding W-4. How do I get the most of my paycheck without having a lot of taxes taken away each time, and not having to owe by tax time? Thank you!

 
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Critter-3
Level 15

Question regarding W-4. How do I get the most of my paycheck without having a lot of taxes taken away each time, and not having to owe by tax time? Thank you!

Your W-4 form determines how much tax will be withheld from your pay. Use the Tax Withholding Estimator on the IRS web site to figure out what to put on your W-4 form. It will let you adjust your withholding to get the approximate refund amount that you want. Check it again in January. What you need for a full year at the new job might be different from what you need for the rest of this year.


Tax Withholding Estimator

 

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3 Replies
fanfare
Level 15

Question regarding W-4. How do I get the most of my paycheck without having a lot of taxes taken away each time, and not having to owe by tax time? Thank you!

you must estimate your tax owed quite accurately to meet both of these objectives.

Then divide by your pay periods and withhold that amount from each paycheck.

fanfare
Level 15

Question regarding W-4. How do I get the most of my paycheck without having a lot of taxes taken away each time, and not having to owe by tax time? Thank you!

OR

use the formulas in the Instructions for W-4.

Critter-3
Level 15

Question regarding W-4. How do I get the most of my paycheck without having a lot of taxes taken away each time, and not having to owe by tax time? Thank you!

Your W-4 form determines how much tax will be withheld from your pay. Use the Tax Withholding Estimator on the IRS web site to figure out what to put on your W-4 form. It will let you adjust your withholding to get the approximate refund amount that you want. Check it again in January. What you need for a full year at the new job might be different from what you need for the rest of this year.


Tax Withholding Estimator

 

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