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W4 Help

Posted on 5/16/22 at 8:51 am
Posted by Kracka
Lafayette, Louisiana
Member since Aug 2004
42581 posts
Posted on 5/16/22 at 8:51 am
I can never get this right. At my previous job as a McDonalds drive thru specialist, I was claiming Married and Zero on my W4, which meant i got taxed more so I would get back a larger refund during tax season.

I no longer work at McDonalds, and I am now the head Toilet cleaner at the local truck stop, and I need to fill out another W4. Married and zero is no longer available to claim on the W4.

Which options should I choose on the W4 to have more taxes taken out so I do not end up owing the government at the end of the year. Both my wife and I work, and we have 2 kids.

I currently have it set up Married filing jointly, and claiming 2 dependents, and no federal taxes were taken out of my last check.
This post was edited on 5/16/22 at 9:10 am
Posted by SaDaTayMoses
Member since Oct 2005
4573 posts
Posted on 5/16/22 at 9:46 am to
single and 0 dependents??
Posted by LSUtiger89
Baton Rouge
Member since Dec 2007
4773 posts
Posted on 5/16/22 at 9:59 am to
Why would you give Uncle Sam an interest free loan? Getting the biggest refund isn’t always the best idea.
Posted by Kracka
Lafayette, Louisiana
Member since Aug 2004
42581 posts
Posted on 5/16/22 at 10:12 am to
quote:

Why would you give Uncle Sam an interest free loan?


Well we certainly don't look at it that way.

quote:

Getting the biggest refund isn’t always the best idea.


It has served us well since we use the refund to pay for tuition. It started as a way to avoid paying, and we certainly don't enjoy breaking even.
Posted by Puffoluffagus
Savannah, GA
Member since Feb 2009
6509 posts
Posted on 5/16/22 at 11:15 am to
The w4 form has a worksheet you follow that walks you through how much additional withholding to take out.

Eta:there's boxes on the w4 that you can stipulate that you want extra taken out etc
This post was edited on 5/16/22 at 11:17 am
Posted by Niner
Member since Apr 2019
2033 posts
Posted on 5/17/22 at 7:38 am to
A little more sophisticated, but ADP has a tool you can use to play around with the W4 (and state) settings to see what your pay stub will look like: ADP Paycheck Calculator
Posted by Clint Torres
Member since Oct 2011
2854 posts
Posted on 5/17/22 at 10:27 am to
Married filing jointly doesn’t withhold enough for my wife and I
Posted by GrizzlyAlloy
Member since Aug 2020
2581 posts
Posted on 5/17/22 at 9:43 pm to
You can set an additional dollar amount to come out each pay period.
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