Hello, I’m wondering about how I can get the most money in each check? I am preparing to get married and I’m looking for ways to maximize each paycheck.
Hi SG718, Congrats and thanks for the question.
Getting Married is a major life event. Recommend that you send in a new Form W4 afterwards.
Below is the re-designed Form W-4 from tax year 2020 and onwards.
Form W-4 Employee’s Withholding Certificate
* Go thru Step 2 (b), find the intersection of "higher paying job" and "lower paying job" (chart on page 4) divided by remaining pay periods, enter result on Step 4 (c);
IRS Tax Withholding Estimator
to find out what to enter on Step 4 (c).
* to have less taxes withheld -
- Increase the number on line 4(b)
- Reduce the number on line 4(a) or 4(c)
- Increase the number of dependents.
Caution: If you have too little tax withheld, you will generally owe tax when you file your tax return and may owe a penalty unless you make timely payments of estimated tax. If too much tax is withheld, you will generally be due a refund when you file your tax return.
Hope the above helps.
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