head of household

[KurlyGrl]

When I file my 2022 taxes, I will file as Head of Household as I am single and my children still live at home. My 2 children will be 19 and 17 by February 2023, when taxes are normally done. I live in Georgia and make about 50k a year. I also have a part time job where I bring home about 350 every 2 weeks.  I've been there for just under 3 months now.  I am trying to maximize my tax refund.  How should my W4 look for each job to maximize my refund?

[VolvoGirl]

By the way, the tax return goes by December 31 each year.  How  old will they be on Dec 31, 2022?  

[KurlyGrl]

They will actually be 19 and 17 at Dec 31st.  

[KurlyGrl]

Just wondering if there is any advice you can give?

[conniem123]

Hi KurlyGrl,  It can be tricky finding that sweet spot of just the right amount of tax withheld to not owe too much tax and not receive too large a tax refund!  The new Form W-4 is great when you have more than one job.  There is a W-4 Calculator that will take you step-by-step through the worksheet,

https://turbotax.intuit.com/tax-tools/calculators/w4/

For more than one job the key is the multiple job worksheet.  Here is an IRS resource for multiple jobs, 

https://www.irs.gov/newsroom/faqs-on-the-2020-form-w-4

Once you complete the form, give it to your employer. Then, keep a close eye on your next few paychecks to see how the changes impacted your federal income tax withholding.

I hope this is helpful!