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Level 1
posted May 24, 2023 1:54:45 PM

W4

I need help filling my w4 out correctly to get money back on my next year taxes ! I do two dependent. How should I filled this out 

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8 Replies
Expert Alumni
May 24, 2023 1:56:53 PM

@Jeanettealexander77 

You can try our free W-4 calculator

This will help you get a better understanding on how to complete the W4.

Good luck and hope this helps

Level 1
May 24, 2023 2:03:55 PM

Thanks you but that’s really confusing to me I did try that I wasn’t sure what I was looking at 

Expert Alumni
May 24, 2023 2:11:56 PM

@Jeanettealexander77 what was confusing on the tax calculator?

Level 1
May 24, 2023 2:14:07 PM

So when I place all the info in the calculator it’s saying 0 $ for paycheck that’s what I’m paying now out my check no federal taxes so I’m like well that’s not gonna give me a check at the end of year 

Expert Alumni
May 24, 2023 2:20:37 PM

@Jeanettealexander77  you can try this one to see if it is better for you https://www.irs.gov/individuals/tax-withholding-estimator

If you follow the prompts it will advise you how your W4 should be completed, based on your answers

Expert Alumni
May 24, 2023 2:30:38 PM

@Jeanettealexander77  try entering different information

Expert Alumni
May 24, 2023 2:34:21 PM
Employee Tax Expert
May 24, 2023 5:14:28 PM

Hi Jeanettealexander77!

 

So you want to revise your W-4 so that you get a tax refund next year? So, you can fill out the W-4 in a way that will get you a bigger refund, but, that will just mean smaller paychecks throughout the year. Any changes on the W-4 just change the timing of when taxes are paid to the IRS.

 

So let’s talk about what will really change your refund—tax deductions and credits!

Here are the most popular ones. TurboTax asks you all the right questions to make sure you qualify and claim the taxes you are eligible for, but sometimes mistakes are made when reading the questions, so I’m glad you’re here asking about it!

 

  • Earned Income Credit – helps low income, but must have worked to get this credit
  • Child Tax Credit – You must also have worked to get this credit (some years, like during covid, the government was more relaxed about the working requirement). Earn too little, you don't get the full credit. Earn too much, you also don't get the full credit. 
  • Dependent Care Tax Credit

 

I encourage you to read the links above to learn how these credits are calculated. It will really help you feel confident you are maximizing your tax refund!