What is the best way to complete W-4 to be most efficient and beneficial?

The IRS replaced the old Form W4 with a new system beginning in 2020.

It’s easy to adjust your withholding. Most efficient is to do it electronically.

I find the TurboTax W-4 Calculator 2022 easier to use, and it will put in the best solution for you:

https://turbotax.intuit.com/tax-tools/calculators/w4/

Use this tool to:

• Estimate your federal income tax withholding
• See how your refund, take-home pay or tax due are affected by withholding amount
• Choose an estimated withholding amount that works for you

Results are as accurate as the information you enter.

What you need:

• Paystubs for all jobs (spouse too)
• Other income info (side jobs, self-employment, investments, etc.)
• Most recent tax return.

 

I hope that answers your questions. Please feel free to give TurboTax a call anytime if you have additional questions or need assistance.

 

Have a great day!

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