Viewing a single comment thread. View all comments

Mekaiyo OP t1_jeh37tk wrote

Reply to comment by wijwijwij in How to adjust W4 to take less taxes out? by Mekaiyo

Ahhh that makes sense, I just used my HRs calculator and looks like my paychecks increased by $100

1

wijwijwij t1_jeh3fgb wrote

The W-4 subtitle makes it seem like that line is just for people who have dependents (child tax credit), but the instructions say you can use it for other purposes, such as your idea of getting your withholding to be more accurate.

2

Mekaiyo OP t1_jeh3px6 wrote

Awesome thank you so much! This is what I was looking for! Hopefully I don’t owe the gov next year! So basically if the IRS calculator says I need to withhold $200 each pay check, I do $200 X 26 = $5200 for the yearly amount?

1

wijwijwij t1_jeh4m6c wrote

No; putting 5200 will withhold 200 more each paycheck than the NORMAL withholding on a paycheck. Not a total of 200 per paycheck.

So you may need to see by how much you overpaid this year, and use that figure.

1