I received a substantial raise and don't want to get clobbered at tax time. Is there a % of witholding or specific target I should aim for? How can I avoid owing taxes at the end of the year?
Your best bet is to claim a zero for the number of dependents even if you have dependents so that enough tax is withheld. You may also put an additional amount taken out in Step 4 (c). Here is a Tax Withholding Estimator:
Hope it helps.
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