You can also reduce the amount of dependents and/or switch to SINGLE on the W-4 to adjust the withholdings. What you put on the W-4 does not have to match your tax return in any way ... never has.
One option is to use TurboTaxes TaxCaster to estimate the amount of your refund and adjust your withholding to reduce the refund and increase your take home pay.
You can then use the W-4 Calculator 2022 to adjust your federal withholding.
This article helps explain how to adjust your W-4 withholding. Form W-4 and Your Take-Home Pay
Life events such as marriage, divorce, having a baby, or getting a promotion or bonus can have a big impact on your taxes. Filling out a new Form W-4 tells your employer how to calculate federal income tax withholding for your paycheck. That way, you won't wind up owing a big tax bill or having too much money withheld from your paycheck throughout the year.
- If it's been a while since you filled out Form W-4, you should know that the form was entirely redesigned.
- The Tax Cuts and Jobs Act of 2017 significantly changed federal tax laws, so workers and their employers needed a more up-to-date form to calculate the amount of federal tax to withhold.
How to Estimate Federal Withholding
Turbo tax also has a W 4 Calculator that you can use to calculate the withholding. You should update your withholding every time there is a major life event or you get a new/second job or get a substantial raise. You can use the link below to calculate your withholding.
W-4 Calculator 2022
