W4

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I got a significant raise and my husband started a new job that also pays more than his previous one. How do we fill out our W4 to make sure we have enough state and federal taxes withheld? We live in MN

Ask the Experts - W-4 II - May 2024

Andrew_W

Level 6

For your federal W-4, it is best to use a W-4 calculator like this one: TurboTax W4 Calculator

This can be used to customize the W-4 based on your income amounts. It will provide a recommendation based on the entries made, which can be used to fill out an updated W-4. Assuming you are filing a joint return, using a calculator like this is important to account for both of your incomes as it all will combine together on your tax return.

You will want to have information about your income from all sources to use the calculator, including any income outside of your wages (bank interest, investments, etc.).

For your Minnesota state withholding, the W-4MN form should be used: https://www.revenue.state.mn.us/sites/default/files/2023-12/w-4mn.pdf

Both the updated W-4 and W-4MN should be provided to your employer once completed.

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