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New Member
posted Jun 4, 2024 11:26:20 AM

How much deductions are necessary to help reduce my taxes

i paid in to irs weekly on my paycheck

0 3 6900
3 Replies
Level 15
Jun 4, 2024 11:42:59 AM

you automatically get the standard deduction - if filing SINGLE, the first $14,600 of income is not taxed! you would need more than what is automatic to reduce your taxes!

Level 15
Jun 4, 2024 12:33:27 PM

Or----are you asking how much you should be having the employer withhold from your paychecks so that you will not owe at tax time?   You can adjust the W-4 you give to your employer and have more withheld if necessary.  (See Step 4c)

 

 

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

https://www.irs.gov/individuals/tax-withholding-estimator

https://www.irs.gov/pub/irs-pdf/fw4.pdf

 

Level 15
Jun 4, 2024 1:33:37 PM

IRS requires you to estimate your tax for the year and pay as you go.

Payroll withholding makes that automatic for you.

 

@ncocwgrl23