How to fill out IRS Form W 4 Exempt
Вставка
- Опубліковано 30 кві 2021
- How to fill out IRS Form W 4 Exempt
-----------------------------------------------------
Join this channel to get access to perks:
bit.ly/3BNFwjZ
-----------------------------------------------------
Join this channel to get access to perks:
bit.ly/3BNFwjZ
-----------------------------------------------------
Are you ready for professional investment advice? We can help you with financial planning and asset management. Let us guide your investments to your financial freedom. START HERE bit.ly/2Fo21Ry
Our financial planning process is an ongoing relationship because as you grow, your financial plan grows with you. At Sickle Hunter Financial Advisors, we believe that saving and making sound financial decisions will help improve your life’s changing needs and objectives. Retirement, college planning, wealth building, social security, and career benefit packets are only a few of the financial decisions that you may face in your lifetime and we’re here to help guide you.
TRAVIS T SICKLE, CFP®, EA®, AAMS®, CRPC®, RICP®
CERTIFIED FINANCIAL PLANNER™
PODCAST bit.ly/3d0PBjO
Company Website: www.sicklehunter.com
twitter: @travissickle
Instagram: / travistsickle
Facebook: / sicklehunterfa
LinkedIn: / travissickle
Sickle Hunter Financial Advisors
1646 W Snow Ave.
Suite 144
Tampa, FL 33606
/////////////////////////////////////////////////
Get answers FASTER...
Join this channel to get access to perks:
/ @travissickle
Chat on discord:
Join Link / discord
Support on Patreon:
/ travissickle
Get IRS FORM W4 TAX WITHHOLDING HELP HERE STARTING AT $39. bit.ly/3FJ6w8U
-----------------------------------------------------
Are you ready for professional investment advice? We can help you with financial planning and asset management. Let us guide your investments to your financial freedom. START HERE bit.ly/2Fo21Ry
Our financial planning process is an ongoing relationship because as you grow, your financial plan grows with you. At Sickle Hunter Financial Advisors, we believe that saving and making sound financial decisions will help improve your life’s changing needs and objectives. Retirement, college planning, wealth building, social security, and career benefit packets are only a few of the financial decisions that you may face in your lifetime and we’re here to help guide you.
TRAVIS T SICKLE, CFP®, EA®, AAMS®, CRPC®, RICP®
CERTIFIED FINANCIAL PLANNER™
Company Website: www.sicklehunter.com
twitter: @travissickle
Instagram: / travistsickle
Facebook: / sicklehunterfa
LinkedIn: / travissickle
Sickle Hunter Financial Advisors
1646 W Snow Avenue
Suite 144
Tampa, FL 33606
Check out Google Business Profile g.page/r/CXEtUMZmXslnEAE
-------------------------------------------------------
Gear Used in Videos bit.ly/3bUPvXP
Partnership referral links
Aura Identity Theft Protection Up to 50% off HTTPS://www.aura.com/travis
Bitcoin IRA bitcoinira.pxf.io/75aJQQ
bit.ly/3OPpmjZ
All Amazon links are affiliate links
____________________________________________________________________________
Information in this video is for educational and entertainment purposes only.
sicklehunter.com/disclosures
____________________________________________________________________________
#travissickle
Here is an organized list of Other IRS Form W4 Videos bit.ly/2MULLen
Travis, have you seen the Documentary called: America, Freedom to Fascism by Aaron Russo? He breaks down in full how the federal income tax is unconstitutional and that we are all exempt from paying it. What are your thoughts? Thanks!
I agree but good luck trying not to pay and getting put in prison.
@@TravisSickle totally, they better send a few IRS SWAT teams, they’ll need them.
@@TravisSickle had a question. I wanted to file excempt just for 1 payroll check and go back to normal , would that be a problem?
@@TravisSickle Can I do this online?
When I was working low wage jobs in past I was exempt but several employers would not allow me to claim exempt because they thought THEY might get in trouble. Now I work for myself and am glad to be free of their idiotic bureaucratic assumptions, and also to be making a lot more money!
So really the w4 is just estimating tax liability. S-Corp still have w4 to compete the w2 payments to themselves.
Checkout s-Corp filings, depending on profits it could make sense. I have one my businesses as s-Corp and the others as LLC and partnerships.
Over $900 was taken from my bi weekly paycheck. Thank you for this. I knew I did something wrong!
damn
On my momma 😭😭 I came here quick
pretty crazy how they hide the fact on the paper you can file exempt
Right?!??
IRS never hides exemption
Thank u 🙏🏽 you made it very simple to understand
Thank you!! I liked and subscribed to you just because of this video thanks again!!
Excellent video! Very detailed! I appreciate the information👍👍
Thank you!
question: someone one told me to change my W4 to exempt for a month when my employer pays out a 9% raise to us so that I wont get severely taxed then change it back to what I had it before. Is this ok to do? It should be a big chunk of change because it is 9% retro for all of last year plus from august through october of this year. I appreciate your suggestions. Let me clarify. Our year is our academic calendar since I am a teacher and get paid 11 months beginning from August 30 - June 30
Thank you! It was nice and clear👍
thank you for making it simple to understand
What if I wrote it in box 4c instead of under, can I still turn it in? Or white out and write it in the bottom?
Thanks for this !
I would LOVE to see this for the new 2022 W4. It seems to be all setup differently and not sure where I would write exempt. Great video even though I needed to see 2022. 😊
Just write it in multiple spots
You can just fill in basic info and at the top of paper really big write EXEMPT
How do you fill out w4 when removing exempt ?
Hi, if I’m 17 and I’ve had 2 jobs in the past but I guess they did withhold, I’m starting a new one recently but I don’t plan to stay for long since the pay is a a couple of cents above minimum wage, can I claim exempt or no? And if I do will I end up owing?
i live in MS but my job is in AR. Can or should I file exempt on my taxes because they're taking AR taxes out of my check.? & if i should, how, because our W4 is electronic and it wont allow me to write exempt in the box.
Question, at my work we do the regular W-4 state abd federal W-4 very often people ask questions about exempt abd I’m lost trying to help or say doing my job 🥴😳😣😒🥺
I didn’t work in 2020 and didn’t do a return in 2020. I started working in July of 2021 and I let them withhold. Should I go back and file exempt?
Good info, thanks
Hi Travis! Love the video. Just have a question. On the Intructions it says write "exempt" in space below Step 4C.Then complete steps 1(a) ,1(b),and step 5. Do not complete any other steps.Says nothing about step 1(c). Just curious. Thanks Travis!
July 15, 2023
What if I have dependents do I fill out that info or no?
Great info thank you. I am hiring my kids now and they will only make a few thousand a year so they won’t have a tax liability. Needed to know how to reflect this.
watch my video on hiring your own kids. more tax savings...
Thank you! 🙂
Why do we fill our 1c when it says only to fill out 1a and 1b?
What if I have two jobs can I file exempt from one job and not the other and what if I want to make it temporary say 3 months?
my employer is saying I can not reduce my tax withholding based on a change in 2020. they stated they can't change anything and the only parts that effect how they change the withholdings are: filling status and if you want additional taxes withheld. I looked online and that appears to be correct. the irs website states you can submit three w4 to the irs for approval, and then they would dictate to the employer your withholdings. any info on how to submit to the irs
How do you leave exempt? I’m new to this and I want to go back to how i was before to be non exempt
So i have a question, irs agents have said theres no law that private sector needs to file as the irs codeisnt law.someone offered 50,000 to the person who could find the law saying anyone other than government employees has to pay taxes and its never been claimed as no one can find it. Have you heardof thisor looked into it? Id like to hear what u say on this as so many are brainwashed into thinking the taxes go on infrastructure social services etc when thatsnot true at all, it goes on interest to the federal reserve bank which isnt federal its private and owned by the english crown
If you are under 16 years old, and have never earn any money before. After you claim exempt in the W4 form. Is it for sure that you don’t need to file taxes?
hi! i would like to ask if you have 2 children as dependent and your husband is not working. how should i file it? should i choose married filing separately? can i clim him as other dependent? thank you
I need help coz it doesn’t let me type my social security number in the box is there anything else I can do to fill this out?
Hi thank you for making these videos!
What does federal income tax liability mean?
It's the amount of taxes you have to pay.
Thank you!!!
You're welcome!
My idea starting January is to exempt all from taxes and invest into high dividend yield etfs till the next January when taxess are due and only pay what I owe for taxes and then roll over the interest over and over. Is this legal and is it okay?
Yup this is fine. The irs is corrupt and operates on fear. Just do you man 😁
@@MochaZilla turns out there is a penalty if you drop below a certain percentage of not paying... lol
Such bs
@@89TNash yes....if you file perhaps....checkout Freedom Law School on YT 😁
what about the with holding worksheet do we fill that out as well?
your name and sign. that's it.
Travis, I looked in your list of other W-4’s and didn’t see a W-4 for college students who work part time (less than 30 hours) but who will still be claimed by their parents because their income is under $15,250/year for 2022. So my daughter will work about 2 1/2 months this summer but she will stay under the income threshold and we will still claim her on our taxes next year. Question: how will she fill out her W-4 to reflect no taxes. We don’t want taxes withheld from her paycheck because she will not make enough (over $15,250) that requires her to file taxes. There is no need for her employer to take out taxes when she will not complete a 1040.
Then enter exempt. Do it just like the video. Were you wondering if she qualifies to be exempt? Maybe I'm not understanding the whole question.
@@TravisSickle Thank you. Yes I think you understand that she’s not going to make enough money for 3 months to file on her own. She a full time college student so we are going to claim her until she graduates college. I was told that she shouldn’t let any taxes be taken from her paycheck since she won’t make enough to even file a tax return and is claimed as dependent on our(parents) tax return. Thank you very much.
Could you show me how to fill out single 1 on The new W4
Can you do this every year as long as you don't go over the 12400?
So question if I file single on a good paying job and exempt on a lower paying job in the same year and my taxes level off does that mean I will get penitlies even though I have no tax liability?
no
Does this work for the disabled?
I've been paying taxes all this time how did I not know about this wtf this is a major win extra 300 bucks a week bro
That's what I like to hear! Good stuff.
Could you tell me what reasons a person wouldn’t have any tax liability for 2021 to file exempt. Have you done any separate videos on that.
credits, deduction, not earning more than the standard deduction...
I am retired military with military retired pay and SSA. Married filing joint, how do I fill out?
Thank you
You're welcome
On my 1040 form line 24 empty can I still file for exempt
Depends also on your current year tax estimates. Rarely does it make sense.
does this have to be done even if you want to exempt on only one check?
that is not a thing.
I'm so angry that they changed the forms. Before the forms were so easy way to tell if you were exempt because of the amount of allowances you added up. But now there's no place to add up allowances, and there's no place that says you're exempt. Why did they make it so confusing, and harder? Are they trying to trick people to get more money out of them?
Is tax exempt for business people who owns business or small business where they don’t have to pay tax at store
No.
Hi very good video I have a question if my W2 comes with a federal income tax withheld in $0 did I need to pay taxes??
Exempt means you do not have to pay taxes.
@travis sickle I'm doing a online w4 I can't write below the box what do I do
You will need to talk to your human resource dept and tell them what you want to do. They should be able to do it for you manually or get you to sign a paper version.
@@TravisSickle thanks
I’m expecting a big bonus can I claim exempt for a short period of time so taxes aren’t taken out of it?
No need to do that anymore. The w4 adjusts with your income.
Can you send me the image as document of the w-4 form
So I’m not able to exempt b/c I don’t meet the requirement. But my question is to you that whatever amount that I have on line 24 put that amount same amount on 4c?
no, use the estimator. Here is an organized list of Other IRS Form W4 Videos bit.ly/2MULLen
What do you think about just claiming exempt for a 1 month period during the year?
If you qualify to do it. Otherwise, no. You want to be as accurate as possible and that’s just filling out the estimator carefully.
@@TravisSickle I thought you can go exempt for 6 months on and 6 off
@@jiggarichardson9638 no. You still have to qualify.
Last time i filled out a w4 it didnt have all this. I wanted to add more dependents since i had more kids For 2022 w4
Its been kinda hard financially aswell so what would happen if i put exempt for a few months and switched back?
So you have to write underneath the line?
yes, it's a strange way to do it. I was wondering why they just didn't have a checkbox or something more intuitive.
On line 4c, I can't write "Exempt" they only let me type in the dollar amount $____. Do I just put for $0.00?
I would just tell your payroll dept what you want to do. It sounds like they have their own system and should be able to adjust how you want it.
Write exempt on line 4C or under the line 4C?
Under.
What if you just recently started working, can i still file for exempt without penalty
Yea
but you'll want to really think about it if you will earn enough to be taxed.
@@TravisSickle Ill most likely end up earning less than 3500 this summer. Would that be ok?
If you work overseas how do you go about this
I think there's citizen living abroad that can help you pay less
I don't understand. So if I don't meet both of those requirements I have no choice but to give the a massive interest free loan each year? How do I LEGALLY reduce or eliminate my withhholdings? I don't care if there's even a penalty fee each year.
Taxes that are owed are only owed are due on the day of the last tax day in April. If you pay your taxes on time you never actually owe or have any tax liability. In fact the federal witholding usually does that for you which is why people usually get tax returns every year because the witholding obvisouly almost always takes too much. You should be safe assuming for the next upcoming tax season if you dont owe anything prior that you didnt pay off.
@@brandontaylor6326 I don't understand. You agree that withholding almost always takes too much. What is the solution now in terms of filling out your W4 so that you get nothing back ?
@@InfiniteClouds to get absolutely nothing back like breaking even is almost super impossible. You will always owe a little or they owe you a little. But to get close to that as much as possible just calculate how much you will make this year and subtract it with the tax brackets that reflect your earnings. I think that's too much work. I just exempt myself for like 4 or 5 months them I put witholding back on for the rest of the year and I practially owe a couple hundred dollars or they owe me only a couple hundred dollars.
@@brandontaylor6326 Understood, but how do you exempt yourself? There is no longer any such field or box on W4s.
@@InfiniteClouds like it said in the video write it right beneath box 4c. Exempt. Do nothing else except fill out boxes 1A and 1b which is literally your name address and social security number. It also has the instructions on the back of the w-4 form. It should literally take 20 seconds to do.
I don’t have 0 for 2021. Do I still qualify for exempt or no?
Watch this one Bigger paycheck or refund with W4 change
ua-cam.com/video/jT1ZyzzVmFA/v-deo.html
Bilingual person here abd I’m lost on how to fill this out!😳🥴
On line 24 from my 2020 taxes it says 13,180
So what does yhe mean for me?
Means you’re not going to be exempt.
@@TravisSickle can i claim 9 tocget the most of my check
Will my job tell me i cannot go exempt
@@funkid5868 you’re job isn’t supposed to tell you anything. They just plug in the info you supply. So if you try going exempt they should do it but you’ll have taxes and penalties if you don’t qualify.
@@TravisSickle even if its just for a month or two .. i claim 0 all year ... do u think it will still affect next year taxes.. than you for responding so quickly
so if I didn't work in 2020 2021 and 2022 dose that mean I'm exempt? sorry i have adhd so this stuff confuses me.
maybe, not necessarily.
Can you point me to the law that requires one to pay income tax?
Abolish income taxes?
@@TravisSickle the law please, don’t side track
@@DigitalPittBoss www.archives.gov/milestone-documents/16th-amendment
@@TravisSickle nice try. 😅
Thanks, you're welcome. 🤑
What do I do for step 3
IRS Form W4 adding dependents mistake
ua-cam.com/video/eQfEGwPiohk/v-deo.html
@@TravisSickle thanks man
I selected exempt on my w-4, 2022 but they didn’t take any federal tax out so now I owe…what I supposed to choose how much money I wanted them to rake oh t for taxes? I thought a certain percentage was taken out automatically
why are you file a tax return thats just stupid if no tax was taken the whole year then were is the TAX REFUND your supposes to get going to come from duuu claim exempts ever year before February 15 i think because it will go back to claiming 1 or something just do it in January to be safe and thats it at the end of the year get your w2 look at it and file it in draw and drawer and thats it repeat each January
Wht if it say none not zero?
none = zero = none.
how can I exempt on online version my employer does not know.
it won't let me write letters in box what should I do?
It's not a submission tool. It's a calculator only. You'll have to write it out on a piece of paper or tell your employer.
What if file exempt is missing on the form?
I might wonder if you watched the whole video.
Will I end up owing taxes?
I did it for half the year and only got a small amount in my return so even out
I have been writing exempt for years never have to pay.. but then again I don't file.
@@mikeredline27 Do you owe if you claim exempt? I'm starting a new job but I need every penny lol
Depends on your total taxable situation. Don't do it if you pay taxes. Meaning if you have a tax liability. It's not always the same if you get a refund. It's about your tax liability.
@@TravisSickle I owe taxes can I still file exempt if I only made 5.00 withholding all year or don't file
So I’m still confused 🤷🏾♂️
im confused about the 1040 bit
tell me more so I can help.
Can you claim and file exempt???
My question as well
Does not say to fill out 1(c)
ua-cam.com/video/JGwa-vAxqW0/v-deo.html
Exempt from what?
From withholdings.
The more you make the more they take
This janky ass production company won't let me do a loan out through my own company to pay me so yeah now I'm here -_-
hmmmm. Maybe time to find a new employer?
I like being exempt because I get extra buying power and can make more money in my investments if I put off paying taxes until when taxes are due. No penalties as long as you file on time.
Can I file exempt on the IRS Form W4? | Tax Withholding Exempt Qualifications
ua-cam.com/video/rKhnpPnQXu4/v-deo.html
@@TravisSickle I already know that I can file exempt. For my new part time job I expect to make less than 24 000 married filing joint and can file exempt for that job because of other jobs being taxed.
You made a good point that sparked an idea for the video and for that I thank you! I also get that question a lot and thought someone out there is going to mess this up so let’s do a video.
@@TravisSickle haha well glad to help! I am not super experienced but I recently got my accounting degree and was filing taxes for a large firm in town so I have a slight familiarity with tax lingo
But wait there’s more!...Title 26 CFR 601.602
I'm looking at this comment wondering what you're referring to. Help me out here. What's up?
This made me even more confused 🤦♀️
Show me the law that states we have to pay income taxes... there is none !!
You can get away with this for awhile. Just file the exemption. I did it for years
As long as you don't live in Washington DC, you're exempt.
No. That is wrong.
@@TravisSickle Why feed the beast? Why not lawyer up, send letters to your representatives and not pay?
Like what Freedom Law School says.
Let me know how that works out for you. 😜
so this is how ok so you file exempt right ok then you dont file a tax return ever again come next year file exempt at the start of the year in January and again dont file a tax return over and over if you dont understand why its that simple well do your own research and find out because unless you know and understand why your not subject to pay a federal income tax you need to educate yourself because the fed wont tell you the truth and neither will this guy.
This is garbage. U can't file exempt anymore. The box doesn't exist. U can't just write exempt
More like your comment is garbage.
Yes you absolutely can, try reading page 2. It clearly states to write exempt, as long as you meet the qualifications. NEXT
you can kid
@@Brainy77 not at my job. Went to payroll there isn't a box and if u claim dependants u need their social security numbers.
Joe Mama theres no box actually on any, not sure why they dont add a box for it. Only see the box when its online. Well giving ur dependents SS# is not really an issue, Whats the problem?
@@austinwilliams4334 Well said.
Mine has an amount. But tax liability means you owed taxes right? I didn’t pay anything for 2020 I actually received a small return. So do I still not qualify to be exempt? If I do it anyways what can happen? @travis sickle
me to, so what will happen?
Question: as someone with a first-time job who has to submit this form to my employer, am I exempt from withholding?
maybe, it's not that simple.