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Level 2
July 27, 2022
Question

W-4 Adjustment ?

  • July 27, 2022
  • 1 reply
  • 10 views

I file Married filing jointly and my spouse has elected to begin receiving social security in August 2022 while continuing to work. Our income will increase by approx. 15%. How can we adjust our W-4s so that we don’t pay taxes when we file in 2023?

    1 reply

    Level 6
    July 27, 2022

    Hello dshardaway!

     

    Yes, you can increase your withholdings by adjusting your W-4 in Step 4(c)Extra Withholding. Here you will enter any additional tax you want withheld each pay period. To calculate that amount, please use our free tax calculator : https://turbotax.intuit.com/tax-tools/calculators/w4/ 

     

     

    I hope this helps.

    Thank you for using TurboTax Live!

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