How do I fill out w-4?

[bnuhopper]

How do I fill out w-4?

[conniem123]

Hi bnuhopper,

Hope you are having a great Wednesday!  

To complete Form W-4,

      1.  You provide personal information and your anticipated filing status in this step. This will be used to                     determine your standard deduction and the tax rates your employer should use to compute your                      paycheck withholding.

2. Complete this step if you (1) hold more than one job at a time, or (2) are married, filing jointly and your spouse also works. The correct amount of withholding will depend on the income earned from all of these jobs between both you and your spouse.
3. If you have children, this section will provide instructions for determining the amount of the child tax credit and the credit for other dependents that you may be able to claim when you file your tax return.
4. Include any of the following items:

• Other estimated income from sources such as interest, dividends, or retirement
• Deductions you plan to take other than the standard deduction to reduce your withholding
• Any supplemental withholding you want for each paycheck

5. Sign your name and date the form to complete your W-4

Here is a great tool to assist you, https://turbotax.intuit.com/tax-tools/calculators/w4/

Hope this information is helpful!

[Cindy4]

Hi bnuhopper!

The Form W-4 should be provided to you by your employer.  It only requires you to fill out a few lines of information and tax withholding calculators can help you figure out what to input on each of those lines. To use it, you'll need to know some basic information about your tax situation. These factors typically include:

• Filing status
• Number of dependents you plan to claim on your return
• Age of those dependents
• Information about pay from jobs
• Pension income
• Contributions to tax-advantaged accounts such as 401(k)s, HSAs, FSAs, etc
• Adjustments to income such as student loan interest paid
• Whether you take the standard deductions or itemized deductions
• Any tax credits you take advantage of
• Other sources of income and tax payments

Step 4(c) on the form allows you to select to have extra withholding if you need to in order to avoid a big tax bill at the end of the year. 

The TurboTax W-4 Calculator can help you:  https://turbotax.intuit.com/tax-tools/calculators/w4/?srqs=null&cid=ppc_gg_nb_stan_all_na_sitelink-c...

Hope this helps!

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