My wife and I file jointly and work a total of 3 jobs. She has the highest salary so I understand that she will claim our kids on her W4 and proceed to fill it out using the multiple jobs worksheet. However, how do I fill out mine? Do I just fill out step 1 if I don't want any additional withholding? If that's the case, how will I be taxed?
To calculate for multiple jobs and/or working spouse the easiest way to do that is to use TurboTax's W-4 Withholding Calculator . It will walk you through a series of questions about your income, tax deductions, and credits, and it provides instructions for completing Step 3 and 4 of the form.
Just remember, while you need to fill out a W-4 for each employer you work for, you should only complete Steps 2 through 4 for your highest paying job. For other jobs, leave those steps blank.
Hope this helps!
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The withholding calculator calculates the estimated additional tax needed to cover what we owe, correct. If we left 4c blank, we'd just have the standard tax rate withheld from each paycheck, right?
The tax withholding calculator is an estimated result based on the information entered by tax payer which allows the employer withheld taxes from each paycheck. As long as the estimated amount is close to what you pay each year, you can leave 4c blank.
You can divide the amount you usually pay in federal taxes by the number of paychecks you receive in a year to find out if any additional amount should be withheld each pay period.
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