Skip to main content
Level 1
July 27, 2022
Question

Question about Tax deductions

  • July 27, 2022
  • 2 replies
  • 33 views

Hello so I would like to make sure my W-4 form is filled out correctly and that I am actually getting deducted for federal taxes

    2 replies

    KochuK
    Level 7
    July 27, 2022

    Hi Mwashy0109,

    The most accurate method is to use:

    IRS Tax Withholding Estimator

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

    Use this tool to:

    • Estimate your federal income tax withholding
    • See how your refund, take-home pay or tax due are affected by withholding amount
    • Choose an estimated withholding amount that works for you

    Results are as accurate as the information you enter.

    What you need:

    • Paystubs for all jobs (spouse too)
    • Other income info (side jobs, self-employment, investments, etc.)
    • Most recent tax return.

    TurboTax W-4 Calculator 2022

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

     

    Hope the above helps.

    **Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"
    Level 6
    July 27, 2022

    Hello Mwashy0109 !

     

    • Be sure to fill out Step 1 accurately with you filing status.
    • Step 2 is important if you have more than one job.
    • Step 3 allow you to claim dependents, if any and 
    • Step 4 is optional.
    • Here is a tax estimator for your use : https://turbotax.intuit.com/tax-tools/calculators/w4/

    Thank you for using Turbo Tax Live!

    **Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"