Changing my W-4

Forum|Forum|3 years ago
May 24, 2023
1 reply
6 views

This past year my wife and I both took new jobs and moved states. Throughout that process I must have filed my W-4 with my new company differently than my past employer, because this year I owed quite a bit and I had become accustomed to getting a refund rather than owing.

My question is simple - what do I need to put on my W-4 so that I do not owe again next year?

Ask the Experts - W-4 - May 2023

JBedford

Level 6

Hi, @rbp015 ! TurboTax offers a free W-4 Calculator that you may find very helpful: https://turbotax.intuit.com/tax-tools/calculators/w4/

Also, keep in mind that you can enter any extra withholding amount you'd like on the form, under Step 4, (c). Is this helpful?

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rbp015Author

Level 2

I went through the steps for the calculator and it showed that if I keep everything the same I can expect to pay $443 next year. Not sure I feel comfortable with that since I paid $4,000 this year.

JBedford

Level 6

This might be a situation where you may just want to add an extra amount on Step 4, item (c). For example, if you're paid 26 times per year, you might just want to ask for another $150 or so to be withheld per paycheck ($150 * 26 = $3,900). Worst case scenario is that you would get a large refund next year.

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