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amderby22
New Member

I currently have 6 allowances on w4. I'm getting a $24,000/yr raise..should i change my allowances?

I currently put 10% into my 401k and was planning on doing the same with this new job.
3 Replies

I currently have 6 allowances on w4. I'm getting a $24,000/yr raise..should i change my allowances?

I currently have 6 allowances on w4. I'm getting a $24,000/yr raise..should i change my allowances?

Be sure to check with your new employer re (1) the waiting period for you to join their 401(k), and (2) the maximum annual contribution allowed by the plan.
dmertz
Level 15

I currently have 6 allowances on w4. I'm getting a $24,000/yr raise..should i change my allowances?

TurboTax's W-4 calculator has not yet been updated to work for 2016.  If you do try you use it,  until it is updated you must indicate your age as of December 31, *2016* (not 2015) and you must answer the question that asks the date on which you will receive your next paycheck with a date in 2015 instead of 2016 (as if the current year is 2015).
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