The W-4 form (seen here) asks for four key pieces of information:
- Your filing status (Single, Married Filing Jointly, etc.)
- Number of dependents
- Other income and deductions
- Additional withholding amount (in dollars for each paycheck)
When you provide a W-4 to your employer, they update their payroll system based on the information you provide on the W-4. The easiest way to calculate/fill out the W-4 is to utilize a withholding calculator. These calculators require information regarding all sources of income for the year for you (and your spouse if applicable), and will generate a W-4 based on your overall estimated income for the year.
It's best to revisit these calculators anytime you have a change in income or any of the information you utilize to complete the calculators (dependents, new job, investment income, etc.).
Here are links to a few W-4 calculators and an article for your reference:
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