You can use the IRS Tax Withholding Estimator to estimate the extra amount you should withhold. It considers your filing status, dependents and any other income. Divide the amount among your remaining pay periods for the current year and note that amount on Form W-4 Line 4(c). It will add to your Federal withholdings on your W-2. If you have too much withheld, it will be refunded on your tax return. You can make adjustments during the year if your income changes.
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Do I enter in my dependents (under 18) salary as an income source? Is there a specific amount that they have to make to be included as an income source?
Same question for a child 18+?
@AZ-Wildcat-22 wrote:
Do I enter in my dependents (under 18) salary as an income source? Is there a specific amount that they have to make to be included as an income source?
Same question for a child 18+?
No, you do not enter a dependent's salary as an income source. Nor the salary of a non-dependent that resides in your household.
You do not include your dependent child's wages on your tax return.
No, you typically do not include either of your dependents income on your return (there is an investment income exception discussed in the link below).
They may have a filing requirement on their own if either earned more than $14,600 or had more than $1,300 of investment income in 2024. Tax Filing Requirements for Children
If each one earned less than the $14,600, you may still want to file if state or Federal taxes were withheld and you want to claim the refund.
For my side job, I am paying estimated taxes. Assuming I pay those accurately, should I enter this in as another source of income? Or don't as I am paying taxes through the year?
Yes, you must include your side job income on your return. You also include the estimated taxes you paid for that income in the payments section. The side income may bump you into a higher tax bracket.
For purposes of the calculator, I am assuming I just make a guess at what that income would be if income varies each year?