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How to fill out IRS Form W4 Married Filing Jointly 2022 - YouTube
Channel: Travis Sickle
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In this video,
I'm going to walk you through
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how to fill out the iris form
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W-4 for 2022
as married filing jointly.
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So if you have the paper version
to the W four for 2022
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or you have an online portal
through your employer
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this is going to be the best
and fastest way
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in completing
the IRS form W-4 for 2022.
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Now we're going to use the on
line estimate
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which is the recommended way
to complete this by the IRS
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so we're going to pull up
the estimate here.
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Then you're going to get
the printout at the very end
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where you can either
turn in your prints out
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or you can fill out your online
employer's form.
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So let's go ahead and fill out
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the IRS form
there'll for online estimator
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and I'll leave a link
in the description
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and at the bottom now
this is from the IRS website.
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Again, a link in the description
at the bottom.
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Go ahead and click on this link
right here.
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Use the tax withholding estimate
here and then it will load.
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Since this is for Married
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filing jointly,
I'm going to go ahead
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and check off
Married filing jointly.
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Then the second question is,
do you or will you
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or your spouse have a job
that regularly withholds
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federal income tax
from your paychecks?
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The answer is going to be yes.
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Then scroll down, select
any that apply.
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I'm not going to check off
anything for this walkthrough.
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I'm just going to click off
next.
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Now, this is an important
section right here
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where you want to fill out
the amount of jobs that you and
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your spouse have had or have so
if you no longer have the job.
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But it was in 20, 22,
add it into the online
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estimator
to be as accurate as possible.
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So go ahead
and add the amount of jobs.
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So you can see it says one here.
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And if I click on that,
we have two jobs
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that could be a job
for you and your spouse.
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That would be two
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if only you have a job,
then it should only say one.
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If you have two jobs
and your spouse has one
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job, that is three jobs,
you had a private office job.
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Add that one as well
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and then go ahead
and move to the next section.
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So this is going to be
my first income source.
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It does not matter
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if this is your income source
or your spouse's income source.
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At the very end, you're going
to get a W four for each job.
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So let's
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go ahead
and fill this out together
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and I'm going to click off
salary for this
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walk through, check off
whichever applies for you.
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So I'm going to go ahead
and check our salary
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then I'm going to say that
I've had this job all year.
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If you have not had this job
all year, check the other box
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and check the other radio button
and then enter in those dates.
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So what you could say is that
you've only had this job, say,
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since February
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and go ahead and start
put that start date there again.
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I'm doing all year, so
I'm going to check off all year
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from January 1st
through December 31st.
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Now, if you don't think you're
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going to continuously work there
through December 31st,
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but you're not really sure
when that job is going to end,
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go ahead
and put through December 31st.
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And then when your situation
changes
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come back to this online
estimate and go through it again
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with the correct end date
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and it will make
the correct adjustment for you.
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That is what the nice thing
about this online estimate
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is that is going to make
all the adjustments for you
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as long as your information
is correct and accurate.
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So let's go ahead and roll down
just a little bit.
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And then right here we can see
how frequently are you
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or your spouse paid?
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I'm going to say
every two weeks.
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Then we're going to say,
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when was our most
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recent pay stub I'm going to say
that it was on the 13th.
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Now you're going
to need your last
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and most recent pay stub.
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Use the last pay stub
that you received and enter
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the wages
or salary per pay period.
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I'm going to go ahead
and just enter in 5000 for this
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walk through, enter the wages
or salary year to date.
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Let's say that we earned already
$45,000.
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Your W-4 or your information
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might look very different
than what I'm entering in.
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Go ahead and enter in your
information from your pay stub.
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I'm just making this stuff up
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so you can see how it gets
filled out.
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I'm going to go ahead
and scroll down
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based on the information
provided
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it looks like your spouse's
income for this job is 125,000.
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If that's true, then say yes.
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Otherwise say no
and make the correct adjustment
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now here's where you're going to
need to look at your pay stub.
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Enter the federal tax paid
per pay period.
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So I'm going to go ahead
and put $250 again.
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Yours could look very different
and it's OK if it does,
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this is going
to make that adjustment for you.
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So year to date, I'm
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just going to say that
we've withheld $4,000 so far.
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And then the next section
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where it says Select
any that apply,
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this is your pretax
contributions
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to things like your four
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or one K
HSA, FSA or or cafeteria plan.
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You want to put that
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information in here
if you're making contributions
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to the Roth side,
since it is after tax,
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that is not
what it's asking for here.
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It is only asking
for the pretax amount
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so it knows how to adjust
your federal withholdings.
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I'm not going to check off
anything for this.
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Walk through, check off
whichever applies for you
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and complete those sections
going on to the second job.
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We can enter in
exactly the same information.
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But for that second job
or for your spouse.
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Now, I'm going to scroll back up
to the very top
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and only see that
we have one job
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just so I can get through this
walk through.
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But again,
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fill this out for each job
that you have any one online
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estimate or do not fill it out
multiple times if you're
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married, filing jointly,
fill it out together one time.
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So let's go ahead and move on
to the next section.
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If any of these apply to you,
go ahead and check them off
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for example.
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If you have a side hustle,
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you're going to need to withhold
self-employment tax,
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which you can do through
your W-4 with your W-2. Job.
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Now for this walkthrough, I'm
just going to click off next.
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But if anything applies for you,
go ahead and enter it in here.
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Do not leave anything out.
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So this is as accurate
as possible.
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Click next.
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And on this next section,
these are going
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to be adjustments
to your income.
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You've any questions
on the adjustments for income?
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Go ahead and click
on the question mark,
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which will give you a link
to more information,
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including the publications
associated with that section.
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So if you have a question
about student loan
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interest deductions, you're
going to click off IRS topic 456
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and it's going to bring you
to a new page
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with publications
like Publication 970.
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So I'm going to go back
to the online estimator
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and we're just going to move
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to the next section again,
if anything applies to you,
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go ahead and mark it off.
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I'm going to click on next
the here is where you're
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most likely
will take the standard deduction
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if it applies for you
if you have deductions above
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the standard deduction,
then you would itemize.
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You use the itemized deductions
for most taxpayers
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is going to be
the standard deduction.
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And for 20, 22
that's going to be $25,900.
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If you're a different filing
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status, it's automatically going
to come up with the correct
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amount of the standard deduction
for your filing status.
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Now I'm going to click on next
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and then we're going to get to
the tax credits section again.
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If anything applies go ahead
and mark it off for yourself.
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For example,
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if you have children,
go ahead and enter them in here.
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You want to
put their ages in here.
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And if you have more than one,
just click on the link
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that says Add another child
or another dependent
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and you go ahead and enter
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in all the tax credits
that apply for you.
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I'm not going to enter in
anything for this walkthrough,
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but if that's the case,
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go ahead and check off the
section that applies for you.
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Then click next.
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Now, this last screen
is very important.
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If you have any questions,
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let me know
in the comments down below.
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But it's this screen.
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It's just going to give you
all of the information
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that we're going to need
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because everything
you've already entered in
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is already going
to be all the way down here.
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And we can see
all that information right here
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to figure out whether or not
you made a mistake
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or if you left something out
it should all be right here.
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So save this for your records.
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Now, right here are expected
tax withholdings.
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If we do nothing,
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if we don't submit this W-4
or is going to withhold $8,000,
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but our anticipated
tax obligation
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is going to be $13,042
given the information
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that we've put into this online
estimate or meaning that we're
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going to have a shortage
of withholdings of $5,042.
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Now, if we scroll down
just a little bit,
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you can see that
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this slider was already set
to get a zero refund,
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and that is because you want
the biggest paycheck possible.
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Slide that over to the zero
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and you're going to get the best
paycheck possible
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given the information
that you put into the IRS form.
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W4 online estimate here.
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Now if we scroll down
just a little bit,
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this is one of the most
important parts
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of this entire video
and this online estimate here,
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and that is the results right
here.
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You're going to
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see a link for form
W-4 already filled out for you.
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And it says Enter 85
in additional withholdings.
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It's already going to be there.
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So this is automatically
going to download for you.
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And if we scroll down
just a little bit,
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you can see the extra
withholdings at $85.
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Nothing else is complete
because we don't need
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to complete anything else.
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In this online estimator.
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All you need to do is enter
in your basic information
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right here
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in step one, your filing
status is already checked off.
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So just leave it as married,
filing jointly,
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and then you're going
to go down to the bottom
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and you're going to sign it data
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and turn it into your employer.
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Do not fill out
steps 23 or four.
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Just enter in the information
that is provided.
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So let's say that I went in
and put it in.
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I had three dependents
and this was the output.
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Use this output.
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Do not go to step three
and start multiplying
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2000 by the amount of children
that you have because then it
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will be completely irrelevant
and will completely mess up.
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We were withholdings.
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So just put in
with the online estimate or
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says because it's already making
those adjustments for you.
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If you have multiple jobs, it's
also going to be multiple W-4.
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So if you go back to
this section
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we're going to have
multiple sections
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on how to adjust
your withholdings for each job
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that you put into the online
estimator.
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Now, this does not submit
anything to the IRS
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or your employer.
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This is simply an online
calculator
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that is going to give you
a printout at the very end
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that you can either turn
into your employer or your h.R.
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Department or plug in
to your employer's online
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portal that they might have
set up a little bit differently
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but all of the relevant
information is on this printout.
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If you have any questions
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on the IRS form, W-4,
I have a ton of different videos
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on the IRS form
W-4 for 20, 21 in 20, 22.
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Just go ahead
and check out my other videos
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or let me know
in the comments down below
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and if you've enjoyed
this video,
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be sure to subscribe and we'll
see you on the next one.
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