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Nevada PERS withholding

My retirement from Nevada does not allow state tax to be withheld now that I live in Virginia. I need to correct my W4 so the required deduction is withheld for federal and extra to help cover my Virginia state tax at the end of the year 

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7 Replies
HeatherB1976
Employee Tax Expert

Nevada PERS withholding

Hi Bobskart!

A great tool to help you with adjusting your W-4 is this calculator: https://turbotax.intuit.com/tax-tools/calculators/w4/ 

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Nevada PERS withholding

I tried to change mine last year so extra was withheld. Instead they only withheld that amount so I owed $13000 total. $9 federal and $4 Va. What should my W4 show when completed to correct this? My goal was $4500 extra withheld to cover VA state taxes in the end since Nevada has no avenue to withhold state taxes. 

HeatherB1976
Employee Tax Expert

Nevada PERS withholding

If you want $4,500 in additional withholding during the year, take that amount divided by the number of pay periods left, and that would go on line 4(c) of Form W-4 (extra withholding)

 

 

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Nevada PERS withholding

Ok. Then just mark no dependents? And that will get back to the normal required deduction plus what I mark as extra? 
I have gone back to work so does that affect it? I have two retirements (USAF, NV PERS, now new work, my wife is w2 also and part time self employed) 

HeatherB1976
Employee Tax Expert

Nevada PERS withholding

Yes with additional income your bottom line for Tax Year 23 will likely be affected.  Make sure to include that when using our W-4 withholding calculator.

If you do not have dependents please mark it as such.

The W-4 withholding calculator also will take your wife's income into consideration when you mark on the first page that you are filing married.

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Nevada PERS withholding

I appreciate your help. Sorry if I’m confused but, my other withholding and hers appear to be accurately withholding taxes. My only one that is really causing issues is my NVPERS. So adjusting that W4 has to do with other incomes? 

HeatherB1976
Employee Tax Expert

Nevada PERS withholding

The W-4 calculator takes all jobs and income into account so you can have consistency in filling them out.  I'd select the highest paying job to withhold the additional $4,500 from to cover your taxes in Tax Year 2023.

 

Thank you!

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