That's a long list! There are articles on all of these, you can search here in the turbotax community or under Help in your Turbotax account.
A side gig you make a net profit on means you will be expected to start paying Quarterly Estimated Taxes.
To answer most of your W4 questions:
The IRS replaced the old Form W4 with a new system beginning in 2020.
It’s easy to adjust your withholding. You can do it on paper or electronically. The old-fashioned way is to walk through the worksheets on the W-4 form.
I find the TurboTax W-4 Calculator 2022 easier to use, and it will put in the best solution for you:
https://turbotax.intuit.com/tax-tools/calculators/w4/
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.
Updating your W4 whenever there is a change in your circumstances, or if you haven't updated it since 2020.
I hope that answers your questions. Please feel free to give TurboTax a call anytime if you have additional questions or need assistance.
Have a great day!
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
