How to fill out IRS form W4 Married Filing Jointly 2023

Поділитися
Вставка
  • Опубліковано 1 лют 2023
  • /////////////////////////////////////////////////
    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 Ave.
    Suite 144
    Tampa, FL 33606
    -------------------------------------------------------
    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

КОМЕНТАРІ • 274

  • @TravisSickle
    @TravisSickle  4 місяці тому

    For more help, become a channel member ua-cam.com/channels/LoIaI_vPPWX47TamcxtP_A.htmljoin

    • @PRBudda22
      @PRBudda22 2 місяці тому

      Hi Travis. I've been watching your videos and they are very informative. Thank you. Do you do any work in NY? I have always been pretty good at finances but in the past couple of years, I feel like we have been doing everything wrong. Returns are so low, I wonder if I'm doing anything wrong. Any wisdom to share? Happy to speak privately if possible.

  • @corymclean7727
    @corymclean7727 2 місяці тому +23

    doing my taxes makes me feel like my country wants me to fail

  • @CJacuzzi
    @CJacuzzi 3 місяці тому +16

    Why do Americans have to do this? It's absolutely insane. No where else in the world are there people adding up numbers, dividing them, deducting this, adding that, just to figure out how much tax to pay. The government just takes what you owe

  • @user-ph5nj5je5c
    @user-ph5nj5je5c Рік тому +85

    This is one of the dumbest and most confusing forms I've seen form the IRS in a long time! After watching two of your videos and one IRS, I am no closer to figuring out how to fill these out. How as a new employee can you use the online estimator? You yourself said you had to use info from your paycheck....I'm so confused!!!!

    • @TravisSickle
      @TravisSickle  11 місяців тому

      check the button that says new job.

    • @twj7775
      @twj7775 7 місяців тому +5

      Yes, I am confused. It’s even asking me how was I taxed on my paystubs… I didn’t get any yet… I don’t know…

    • @claudiapastorahdez6177
      @claudiapastorahdez6177 5 місяців тому +1

      I have to agree.

    • @puglove6089
      @puglove6089 4 місяці тому +1

      I am also confused.
      My husband is just retiring, and I am on Social Security disability., we file married filing jointly.
      Do I have to put in my income from disability? Thank u for any help u can provide 😊

  • @memo1975
    @memo1975 5 місяців тому +5

    You started by explaining what happens if you just fill out the top part of the form and submit it. Then you went on to compare and contrast all other outcomes to that outcome. So many people neglect to provide that kind of perspective in instructional videos, well done you!

  • @craftyorganizedmom1824
    @craftyorganizedmom1824 Рік тому +2

    Hi Travis. Came across this video in a google search and just wanted to say thank you. This helped me understand how and why to use the calculator. We've been under withholding for several years and don't want to make the same mistake again. This will help!

  • @edkempf5754
    @edkempf5754 4 місяці тому

    Thanks, Travis. Helped Demystify the new W4. Hadnt adjusted my withholding in years, it was time

  • @naturalcandigirl
    @naturalcandigirl 4 місяці тому

    This was super helpful and exactly what I needed! Thanks so much!

  • @patmacken5130
    @patmacken5130 6 місяців тому +1

    So I look at this figuring it is the same concept for the upcoming 2-024. I can't even remember what I did when I took this job 3 1/2 years ago (it was the first time ever doing one married filing jointly, she worked two jobs at the time and it was the first one at all that I filed out in over 20 years) and then tried to help my wife do one this fall when she got a job. The who thing is confusing to me as my wife has pretty consistent hours but it can be lower rather than higher than expected. She also has summers off. My job though has a consistent floor (we are both essentially hourly) where over time can vary greatly and there are monthly bonuses. I finally said eff it and just told her to sign at the top hoping we at least wouldn't owe anything.
    It would be nice to see a suggestion on hourly people closer to the median income where unpredictable (but very existent) over time can be a thing

  • @nakia4230
    @nakia4230 9 місяців тому +1

    Came to your video because I’m an accounting major and I’m in a federal taxation class. We have the tax book for 2023. I’m already struggling in the class. Thanks for your video 😊

  • @GAMMA_AF
    @GAMMA_AF 5 місяців тому +8

    My wife and I both make roughly $140k a year. When both making about the same, will we benefit from filing jointly and going through the extra hassle? No kids, but we make mortgage payments on our home.

  • @travelasia2023
    @travelasia2023 Рік тому

    YIKES...I had to add an additional $900 withholding!!! I shall see how this works out on next year taxes. Thanks @Travis Sickle

  • @zwroberts1
    @zwroberts1 10 місяців тому +3

    Hey Travis! I think it's awesome to see you're still active in the comments on a 6 month old video. Had a question for the W4 that's going to affect me in 2 years and I want to get out ahead of it.
    As of now I'm married filing jointly and just basically doing the sign the top method. My wife has been in school and her only income has been summer jobs or my odd side gig. Really unpredictable income wise to use the estimator.
    In 2 years she'll finally get a job (making 3 times as much as me) and so I'm reexamining how to do the W4. Her job will allow her to work extra days for a pretty substantial amount of pay (about half of my monthly take home per day) as well as earn production profits. With both of those things in consideration, I don't want to use the estimator or the multiple job worksheet and fill out our W4s wrong. Would a solution be to just sign them and turn them in since her salary could vary wildly, or on both of ours would it be better to check option C on Step 2 of the W4? If I was to get a second job, would I still be able to check option C, or would I be in a world where I have to then just sign and turn in...
    Bad experience with the IRS at 21 as a first time 1099er has me terrified of owing thousands of dollars at the end of the year when I don't have it. Thank you!

  • @lindakir_bukasa
    @lindakir_bukasa 10 місяців тому

    Hi Travis thank you so much for all your helpful videos. I’m confused as to how to fill out the 2023 W4 as married filled jointly. My husband and I both work full-time, we have two children under 2, twins.
    Your help is appreciated. Blessings

  • @toniellensilva
    @toniellensilva 3 місяці тому

    Thank you very informative

  • @stellaye6948
    @stellaye6948 Рік тому +1

    Thank you so much !

  • @dstarson8000
    @dstarson8000 5 місяців тому

    Thank you, need that.

  • @itzjoee19
    @itzjoee19 Місяць тому

    And there’s more kids! Now do that State version, it’ll prob blow our minds even more!

  • @sarahcarterrealtor2548
    @sarahcarterrealtor2548 10 місяців тому +1

    Hi Travis! I am trying to fill out my W4 for my very small part time job making under $12,000/year. My husband obviously makes all of the money I'm just working a little now that our kids are in school. We have 4 kids. I am stumped on how to fill this thing out with such a small amount.

  • @melc156
    @melc156 3 місяці тому

    If you were commission-based or had a base salary and the likelihood of getting additional pay thru overtime pay, bonuses, and/or commissions, which salary should I imput in the IRS calculator?

  • @XloMotion
    @XloMotion Рік тому

    Google recommended this video to me because I changed my W4 to reflect that I no longer have a dependant.
    Well I saw my check and I'm being taxed at 40%. Needless to say that I can't survive on that.
    I looked at the form again and I missed section 4 where I can add my mortgage interest and house taxes.
    I added those up to see how it changes

  • @jessicajohnson9522
    @jessicajohnson9522 5 місяців тому

    Hi Travis. How does this work if you will be starting a new job in 2024 with a different income than your last check? Also if my husband previously did the fill out the top and sign method is he able to update his tax withholding and do the bottom?

  • @brandonschultz
    @brandonschultz Рік тому

    Hi Travis, just came across your video. Super helpful. Starting a new job and considering using your services to adjust our w-4(Wife and I). Do I need to wait until I get my first paystub to start?

    • @TravisSickle
      @TravisSickle  11 місяців тому +1

      no you don't need to wait. Also, you can check it using the online estimator.

  • @quadgod1072
    @quadgod1072 Рік тому +5

    Hi Travis. My wife & I regrettably owe nearly $7,000 in taxes for 2022. I'm trying to use the online calculator to adjust our withholding for 2023 but on the W4, it's showing adjustments on both of our W-4 forms in step 3 rather than additional withholding in Step 4C. Not sure I understand why. Any feedback would be appreciated. Thanks !

  • @drod5157
    @drod5157 6 днів тому

    It sounds like the form is so complicated so that we don't figure out we are paying extra. If you pay extra- Your money goes faster to other countries, lol

  • @parksbpknit
    @parksbpknit 2 місяці тому

    I recently made some changes this year due to the amount of taxes we owed and everything I read says that even if you are married and filing jointly if you both have jobs you should be checking married filing separately on this form. What are your thoughts on this? Great video!

  • @jmakc3541
    @jmakc3541 9 місяців тому +1

    Thanks for the info, very helpful.
    Also, I miss the old way... 🤬

  • @liberty2four2
    @liberty2four2 Місяць тому +1

    where did u get the '26' pay period?
    I get only one pay period / month and my wife gets two pay period/month, do I need to combine it?

  • @SlickDiecast
    @SlickDiecast 2 місяці тому

    The estimator sucks now. There used to be a slider bar to adjust your withholdings so you know what numbers to put in to see if you owe or will get a refund. How do I adjust my withholdings so it will give me that result?

  • @jasondhinkle
    @jasondhinkle 9 місяців тому

    What do I do for money made if I’m starting a new job? Do I use old jobs paystub?

  • @matthewulatowski9128
    @matthewulatowski9128 Рік тому +2

    Travis, great videos! My wife, son and I are relocating to a state with no income tax and our income is increase substancially with new employers. There are no options on the paper copy for our level of income since it will be too high. We both will need to complete a new W4 but are having trouble determining how much to have withheld. Any advice?

  • @kitkarson4226
    @kitkarson4226 Рік тому

    Hey Travis.. I have been binge watching your videos. I wanted to set up solo 401k for my LLC. (self employed and I am the only person anyway for my freelancing work). But fidelity process looks super complicated to setup. Not as easy as SEP IRA. Do you have any videos to explain how to do?

    • @TravisSickle
      @TravisSickle  Рік тому

      not on the paperwork but I am starting a discord chat here discord.gg/enuJThjHJ9 I just added this link to the descriptions of my videos.

  • @divyasree315
    @divyasree315 9 місяців тому

    Hey Travis, can you please share the excel document "Tax Document" that you used in the video to tweak the values and check

  • @PhyllisWright-oh1qf
    @PhyllisWright-oh1qf 9 місяців тому +1

    Do you include your SS income when completing a W4?

  • @alexxdaye1
    @alexxdaye1 Рік тому

    HEY Travis! I have multiple jobs, both W-4’s and 1099’s, so I have to do estimated taxes on the 1099 jobs and fill out two types of W-4’s because of different pay cycles. At this point I feel I need to hire a CPA with this because of the new calculations. I had NO idea about this change and now have a monumental tax bill for 2022. Do I have to fill out two different W-4’s for the taxed jobs? It would appear the answer is yes, but I’d like to see if there’s another way. If not, I’d just like some clarity. Thanks!

    • @TravisSickle
      @TravisSickle  11 місяців тому

      use the online estimator and enter in all the info. At the end it will give you multiple IRS form w4 forms.

  • @nicholasrobinson848
    @nicholasrobinson848 2 місяці тому

    is the wages or salary period gross or net pay? like that is a key factor to state.

  • @golden-ish652
    @golden-ish652 4 місяці тому

    It’s telling me (higher paying job) to take additional $168 out per paycheck, and my husband, $0. Can I split that between the two of us? Can I put $84 on my extra withholding (4c), and $84 on his?

  • @baileyhutchinson3385
    @baileyhutchinson3385 Рік тому +11

    Do both spouses fill out the multiple jobs worksheet or just one ?

  • @tiffanypuckett9809
    @tiffanypuckett9809 Рік тому +1

    Nobody every talks about what you do if you expect bonuses but don’t know what they will be

    • @TravisSickle
      @TravisSickle  11 місяців тому

      the withholdings adjust per paycheck. You can always go back to the estimator and check if you're on track.

  • @creeksidevolleyball820
    @creeksidevolleyball820 3 місяці тому

    great video. just curious, on the IRS online estimator, when it asks for our latest wages, are we inputting gross or net?

  • @jayjozwiak
    @jayjozwiak Рік тому

    What’s the best way to fill out the estimator tool if you, or you and your spouse both, get a promotion/salary increase mid year? Married, filing jointly, both employed. TIA!

    • @TravisSickle
      @TravisSickle  Рік тому +1

      Add as a new job or adjust based on how much you’ll earn for the year.

  • @ramsastry8945
    @ramsastry8945 11 місяців тому

    Travis, thx for the video. In the W4 form table on page 3, when it says "Annual Taxable
    Wage & Salary", what does this mean? Is it the gross income, or gross income minus 401K contribution and any other deductions?

    • @TravisSickle
      @TravisSickle  11 місяців тому

      If you’re using the tables, it’s net income, but I would just use the estimator for the most accurate number.

  • @BronzeAgeBryon
    @BronzeAgeBryon Рік тому +1

    I'm going to be teaching 1 class at the local college this fall. I of course have to fill out a new W-4. The pay for the whole semester is only 2K. Why would I use the regular full time public school teaching salaries of my wife and I to calculate the deductions for this job? Seems crazy. Any advice is appreciated. Thanks.

  • @larvind
    @larvind Рік тому +1

    Travis, can you do 1 job and 1 LLC for the married filling scenario?

    • @TravisSickle
      @TravisSickle  10 місяців тому

      My team has been helping people 1x1 and we're thinking of doing a more detailed course for these types of questions in the future.

  • @kelseypeterson6665
    @kelseypeterson6665 10 місяців тому

    Hi! My husband and I just got married and both have new jobs in the same school district. He also has a part time gig and makes less than $3k a year. When filling out the multiple jobs and additional withholding sections do we do the same on each of ours? Or can I check the box and move on and he uses the sheet to calculate his withholdings. Thanks!

  • @jonmoore8916
    @jonmoore8916 Рік тому +8

    I'm married filing jointly with two jobs. If I just sign and turn in the document, is that a good way to make sure I don't owe money when I file my taxes?
    Thanks for the video. This new w4 is super confusing compared to the ones I've been filling out for the past 15+ years.

    • @ixWebb
      @ixWebb Рік тому +1

      Make sure you add extra deductionsper check, otherwise u gojng to pay next year.

    • @TravisSickle
      @TravisSickle  10 місяців тому

      July 17, 2023

  • @asdfghjk25383
    @asdfghjk25383 3 місяці тому

    So my question may be totally dumb but I am just not understanding the logic of the additional withholding. I did the online estimator and used all the info from our les, I understand that the higher earner has the additional withholdings per pay period. Is this to cover the federal taxes that is owed by the spouse who makes less? If the spouse that makes less fills out the form and only does the top section and chooses married filing jointly are federal taxes still taken out of their check? So, in essence the higher earning spouse is having his federal with held and an additional amount taken out for the spouse's job. Are the taxes withheld from the spouse with the lower income reduced because the higher earner spouse is withholding an additional amount? What is the purpose of the additional amount if both checks are still having withholdings?

  • @joshuasiliva4618
    @joshuasiliva4618 10 місяців тому

    hi, thank you for your help. So if we want a big return just sign, date and dont fill out any of the lines? If my wife and I did that for both our w4 would it pull the max amount of taxes for both our w4s?

  • @erinreyes8787
    @erinreyes8787 Місяць тому

    Hi Travis, i think im confusing myself on the last bit of the video regarding the online estimator. Where you’re referring to the additional withholding. Can you break that down another way if possible?

    • @TravisSickle
      @TravisSickle  Місяць тому

      I have two videos for the additional withholdings explained in the members section... ua-cam.com/video/hSoD6VyIvzY/v-deo.html

  • @andrewhart8268
    @andrewhart8268 2 місяці тому

    Is the google sheet available for download?

  • @averageadam5001
    @averageadam5001 4 місяці тому

    I'm filling out a W-4 for my wife's new job. I get paid once a month. here new job will be bi-weekly. Do i still you my pay period for the w-4 for her new job. if it's per paycheck it seems like it's going to be taking at alot. it calculated at $500.

  • @Jessica_PMHNP
    @Jessica_PMHNP Рік тому +3

    I’m trying to file so that it takes the least amount of taxes out of each paycheck. Any suggestions? I am married jointly status and I claimed myself as a dependent. Any help is appreciated!😊

  • @StayPufttt
    @StayPufttt Рік тому

    Hello, the IRS calculator expects us to overpay in 2023. To adjust for the overpayment I will submit an IRS pre-generated W4-2023 to my employer. My question is: Come 2024 do I leave everything as is? Or at that point do I need to submit a W4-2024 with $0 in the extra withholdings 4(c) area. Thanks

    • @TravisSickle
      @TravisSickle  Рік тому +1

      Yes to review it periodically. What exactly you should enter will depend on your situation at that time. Zero could be correct but I don't know anything else about your situation to answer.

  • @joemulbah5540
    @joemulbah5540 11 місяців тому

    I saw that you highlighted Part II session C. So in the case where you and your wife both work one job. Both spouse will check session C box on their W-4 correct?

    • @TravisSickle
      @TravisSickle  11 місяців тому

      IRS form w4 Step 2 multiple jobs

  • @stephen3891
    @stephen3891 Рік тому

    Hello I’ve got a question that I can’t seem to figure out.
    I am an hourly worker for an electric utility company. My hours can vary GREATLY. My issue is I’m not sure what I’m supposed to put in order to not owe a huge amount at the end if the year when my base salary is about 42k but my overtime could land me somewhere between 70-90k. I just don’t know exactly because I can’t see the future lol. Nothing I’ve looked up has helped at all!

  • @docGthePT
    @docGthePT 4 місяці тому

    great info overall- any chance it can be dumbed down further. Like showing where you are pulling numbers from on the paycheck and putting them into the online calculator. Im not sure where it says "Enter wages or salary per pay period", does that mean gross earnings or after taxes and benefits come out? Same with wages/salary YTD? I'm also confused as to why it's asking for most recent paycheck and why you wouldn't put in the date of your last paycheck of the year (in your example you used feb 2023, why wouldn't it be like Dec 31 or 29, 2022 or whenever your last paycheck of 2022 was)?

    • @TravisSickle
      @TravisSickle  4 місяці тому

      Become a channel member and I'll break it all down further. I have a ton more videos on the topic. I think 100 for the w4 alone.

  • @PRBudda22
    @PRBudda22 2 місяці тому

    Hi. "brain picker" here. Been watching so many of your videos and I can't see where we're going "wrong". Never had to pay. Nothing has changed. Moved three years ago (same state). One child gets over every year (now at 16). Not sure where it's coming from. Thoughts?

  • @annier7009
    @annier7009 Рік тому +5

    Can you expand on married filing jointly with children?

  • @tabbarae5698
    @tabbarae5698 Рік тому +2

    What do you recommend for a spouse who has a w-4 but the other one is a 1099?

    • @TravisSickle
      @TravisSickle  10 місяців тому

      It depends on the amounts of income. There are many ways to check your withholdings but not one answer for all.

  • @tonidoyle9225
    @tonidoyle9225 Рік тому +1

    My husbands checks vary because of overtime. How do you file that? His job makes the most money. We had an accountant tell us to just have him file single on his w4.

    • @TravisSickle
      @TravisSickle  11 місяців тому

      ua-cam.com/users/shorts1UFus3tsyzI?feature=share

  • @2VsOn1
    @2VsOn1 Рік тому

    should your Expected tax withholding* and Anticipated tax obligation** be dramatically different? Mine is off by 20k.

  • @BladeTherapy
    @BladeTherapy 7 місяців тому

    I would like to know how we should be filling out for Florida. We are married no kids but i do clam my parents who are on ssi and social security. Last year was the first year i ever owed. My wife makes 38k i make 28k. How should be be filling and what should we have in the w4 boxes to not pay?

    • @TravisSickle
      @TravisSickle  7 місяців тому

      join memberships and ask questions. ua-cam.com/channels/LoIaI_vPPWX47TamcxtP_A.htmljoin

  • @schizt121
    @schizt121 5 місяців тому

    Just curious on your first calculation, which you used the ADP calculator. The date entered is 2/2/23, and you selected bi-weekly. You proceeded to calc the total federal tax by 26 weeks/ pay periods based on your inputs. Should it be 24 pay periods if you use 2/2/23 as your starting date?

    • @TravisSickle
      @TravisSickle  5 місяців тому

      That’s just an example, use whichever pay schedule works for you. The dates may not matchup with others on a similar pay schedule.

  • @user-mb8iq8ge9c
    @user-mb8iq8ge9c 11 місяців тому

    Can you do an example for married filing jointly. 1 job and SSDI for spouse??

    • @TravisSickle
      @TravisSickle  11 місяців тому

      Here is the IRS Form W4 list of videos ua-cam.com/play/PLtdG6H66jphKEb5r0BhKChyJQsQ3rLcqx.html

  • @mikebradley1112
    @mikebradley1112 Рік тому

    My checks are pretty much the same every two weeks but my wife is salary and gets commission once a month. So I was wondering what is the best way to use the irs estimator?

    • @TravisSickle
      @TravisSickle  Рік тому

      good question, I am starting a discord chat here discord.gg/enuJThjHJ9

  • @catrinalopez2190
    @catrinalopez2190 7 місяців тому

    Hi Travis, married filing jointly, each of us have a job, and no dependents. I know how to read the worksheet for income. my question is do we EACH check the box for multiple jobs or just one of us?

    • @TravisSickle
      @TravisSickle  7 місяців тому

      great question...answered in our members section ua-cam.com/video/8QSOJGDVWFo/v-deo.html

  • @chrisbondra2090
    @chrisbondra2090 4 місяці тому

    For the last two years I've owed thousands at tax time and I don't understand why. This year we owe thousands again. For the first 14 years of filing jointly we always got a return. I haven't changed a thing and I'm getting penalized for it. So in these three years we've had $11K stolen from us. These videos don't help me much. It used to be claim 0 and you won't have to worry about paying and you'll get a return. Now it is screw the hard working family and make them pay even more than ever before!

  • @baddecision45
    @baddecision45 Рік тому +2

    I recently got taxed more this year which is 2023 my checks aren't the same so I'm trying to figure out what's the proper way to fill out a W-4 form 2023 married jointly with two dependents with one job and my wife have one job

    • @annier7009
      @annier7009 Рік тому +1

      Here for this question as well!

    • @ixWebb
      @ixWebb Рік тому +1

      Waiting for the answer on this as well :( @bad decision let me know how you do it haha.

    • @TravisSickle
      @TravisSickle  10 місяців тому

      July 17, 2023

  • @amyferraro8740
    @amyferraro8740 10 місяців тому

    Hi Travis. I tried to use the IRS estimator but it doesn't work for us. Here's why: For 2023 I've worked Jan 1st to present and my current withholding on my check says single - 1. My husband has had no income from Jan 1st to present because he was out of work due to an injury. He is however starting a new job on Monday. How do we accurately calculate withholding when the estimator requires income and withholding amounts for both spouses? Any advice or assistance would be much appreciated.

  • @EstherMaldonado-vk7fh
    @EstherMaldonado-vk7fh Рік тому

    Hello so do we leave step 3 blank? I have 2 kids and am wondering if I need to out $4000 in line 3 or leave blank. Thank you!

  • @Tweiss9910
    @Tweiss9910 8 місяців тому

    Just got married and used the estimate tool per your advice. My question is in regards to extra withholding. If the tool estimates that we will owe only $733, why would it have me put $226 into line 4c on the higher salary w4 with 7 pay periods left in the year. Wouldn't that withhold way more that the anticipated tax obligation? ($226*7 pay periods=$1582, approx $850 surplus withholding)

    • @TravisSickle
      @TravisSickle  7 місяців тому

      I thought I answered this question the other day. I did a video explaining Step 4c in the members section. ua-cam.com/video/zEt8juCakzE/v-deo.html

  • @golden-ish652
    @golden-ish652 4 місяці тому

    For the online calculator, do we enter the gross amount on our paystubs or the net?

  • @sparkyevo4g
    @sparkyevo4g 5 місяців тому

    Hi Travis, my wife makes $167k. I make $70k. We have 3 kids 17 and under. Do we use 2(c)? Or do we leave mine alone, only note married filing jointly, sign and date, and have her use 2(b) and add dependents?

  • @budgetwithstar2600
    @budgetwithstar2600 Рік тому +5

    Can you do an example of a married couple filing jointly with 4 jobs and no kids

    • @MzSquishyX3
      @MzSquishyX3 Рік тому +1

      Yes please, I second this!

    • @TravisSickle
      @TravisSickle  Рік тому

      good question, I am starting a discord chat here discord.gg/enuJThjHJ9

    • @karlavalera5972
      @karlavalera5972 Рік тому

      Yes Please!!!

    • @TravisSickle
      @TravisSickle  Рік тому

      @@karlavalera5972 it’s the same as this one. Just add two more jobs.

  • @whitneyf7320
    @whitneyf7320 4 місяці тому

    Hi! So that 36,000 in your example which was calculated by the grid worksheet, and the 10,000 you calculated for the W-4 without any added withholdings. There was about a $10,000 difference. Is that seen in the form of a refund? I confused what happens with the discrepancy in calculated numbers ? Thanks!

    • @TravisSickle
      @TravisSickle  4 місяці тому

      I think you understand it. Let's say you have a total tax liability of 10k but withheld 5k throughout the year. You would then have to pay 5k at the end of the year. Alternatively, if you withheld 13k, you would get a 3k refund. MY WHOLE POINT, is that if you really want to make sure you know what your total tax liability will be and how much you should withhold, use the online estimator. The result, if you have a 10k liability should be that you withhold 10k via W4 tax withholdings.

  • @jpen5824
    @jpen5824 9 місяців тому +1

    Heres what i keep getting hung up on. Say my wife make the 125k and i make the 45k. Should both of our w4 forms look identical as in both jobs should be accounted for for each person? And if thats are we trying to configure this things where all of the taxes get taken from one paycheck?

    • @ab141581
      @ab141581 8 місяців тому

      This is the same Q I have that no one seems to answer online. Would love to know what my spouse the lower earner needs to put on her W4. Neither of us have changed our W4s, and she hasn’t since before we were married. Same Q as far as the CA EDD W4. Are we supposed to both fill out the forms exactly the same. Does the lower earner just fill out/sign w/o any figures?

  • @ninamlvd
    @ninamlvd 10 місяців тому

    Hello! My husband is the only one working, I have no job and no social security number.
    What should he choose in his W4 Form? Single or Married filing JOINTLY?
    Hoping for your reply. Thank you.

  • @jeramiahholland8199
    @jeramiahholland8199 7 місяців тому

    If my wife and I both put married filing jointly and we use the chart on the IRS W4 form to find our additional withholding amount do we both need to put that amount on 4c or just whoever makes the most money?

    • @TravisSickle
      @TravisSickle  7 місяців тому

      answered in this members only video ua-cam.com/video/zEt8juCakzE/v-deo.html

  • @Kaylenvaught
    @Kaylenvaught 9 місяців тому

    Hi Travis!
    I’m very confused how to use the online estimator tool because while I have salary pay, I also have commissions which significantly vary month to month and are hard to predict. How can I best estimate my commission alongside my husbands pay in married filing jointly?

    • @TravisSickle
      @TravisSickle  9 місяців тому

      you can estimate it and then check it periodically to make sure you're doing it correctly.

    • @Kaylenvaught
      @Kaylenvaught 9 місяців тому

      But if commissions are that variable, how can I estimate it?

  • @Genesh
    @Genesh 7 місяців тому

    If I am starting a new job to file the W4, how would I have a paystub to use the estimator?

    • @TravisSickle
      @TravisSickle  7 місяців тому

      ua-cam.com/video/l3Zf4F5Io_M/v-deo.html

  • @davidriverajr.5136
    @davidriverajr.5136 Рік тому +1

    I pay Taxs every year. I never get anything back. I’m starting a new job and want to fill out this W-4 correctly where I will get money back at the end of the year. What should I do ? I get confused and overwhelmed very easily.

    • @TravisSickle
      @TravisSickle  11 місяців тому

      Online estimator, my team can help...link in description.

  • @AZ_john
    @AZ_john Рік тому

    I noticed the generated W4 from the IRS estimator does not check the (c) box in Step 2. Do I have to check this or leave blank?

  • @georgehodder8451
    @georgehodder8451 4 місяці тому

    We typically get a reasonalble refund, but we ended up owing taxes for 2023.
    So last week.. I did the online estimater.. it showed we would owe again. So I updated per it's guidline and filled out the lower income job, just checking the box for married filing jointly and signing. For the higher income's W4.. it suggested an amount in 4a (other income not from jobs I believe it was the diff between 25,900 and lower job salary) and additional withholding. I followed both.
    Today was the first paycheck with that change, and I didn't like the outcome.(significantly lower check of course) So re-checked the online estimater again and this time showed a HUGE refund projected, and the only change was a slightly lower number in additional withholding.
    So.. will this level out as the year progresses? Or should I adjust it again?
    I'd like to be close to even.. certainly don't like owing. But we have to meet our monthly budget too!

    • @TravisSickle
      @TravisSickle  4 місяці тому

      I can certainly take a look, become a channel memeber and get free access to our discord channel for more help. ua-cam.com/channels/LoIaI_vPPWX47TamcxtP_A.htmljoin

  • @daby8399
    @daby8399 Рік тому

    I'm still on the 2019 W-4 cuz it says if you were employed prior to 2020 you don't have to do this new W-4 form you can leave it as is the problem is. My husband has to use this form and they're taking zero taxes because I think you fill the form out incorrectly we're separated but we do married filing jointly. So should I update my 2019 to the new form so that we're both on the 2020 form or is it okay to leave mine on the old one and put him on the new one?

    • @TravisSickle
      @TravisSickle  Рік тому

      use the online estimator which will give you a printout at the end. It's the 2023 version. Do exactly as I show in the video.

  • @misaelmarroquin6504
    @misaelmarroquin6504 Рік тому

    Hello I have gone to the irs tax withholding estimator but there is not an option to fill out the w4 like it show in your video. I’m a doing something wrong?

    • @TravisSickle
      @TravisSickle  10 місяців тому

      Not sure, what’s missing?

  • @tinastephens2603
    @tinastephens2603 10 місяців тому

    Hello, my husband is now retired and getting Social security monthly. I am still working and not sure how to file now. I have $0 federal coming out of my paycheck. What is the best filing status for me at this time.

    • @TravisSickle
      @TravisSickle  10 місяців тому +1

      Usually, that would be MFJ. but that depends on your situation. Sort of a complex question to answer.

  • @RedFive03
    @RedFive03 Рік тому

    So what does the lower earner put on their W4 for this scenario? This is all for the higher earner.

    • @TravisSickle
      @TravisSickle  Рік тому

      The last page of the online estimator shows both.

  • @otrotland5377
    @otrotland5377 Рік тому +1

    I get 3 incomes from different sources. On their own filling out the w4 online estimator shows me getting a refund, but when all the income is combined I end up paying 3,500$ plus penalties. Is there a way to just send the irs a monthly check without filling out a bunch of forms. Just like the light bill and other bills.

    • @otrotland5377
      @otrotland5377 11 місяців тому +1

      I made an account on the irs website. Figured out what I owe and am making monthly payments.

    • @TravisSickle
      @TravisSickle  11 місяців тому

      thanks for sharing.

  • @stevennoriega1587
    @stevennoriega1587 3 місяці тому

    I make 83k and wife make 69k, should I still use the estimator or just check box 2c?

  • @hansknitter6840
    @hansknitter6840 26 днів тому

    My question is that in your example you said you apply the increase to the higher earner. So for the one who doesn’t make as much you don’t put anything but signing their name?

    • @TravisSickle
      @TravisSickle  26 днів тому

      No, I think you misunderstood. Use the online estimator and input ALL jobs for the household. The output will give you a new W4 for each job.

    • @hansknitter6840
      @hansknitter6840 25 днів тому

      @@TravisSickle Ok I did that and there is a couple of questions that I don't understand on it now.

  • @BryanWilson-st7cn
    @BryanWilson-st7cn 3 місяці тому

    The online IRS estimator way under estimated me and now I owe......... a lot (well any to me is a lot lol)

    • @drod5157
      @drod5157 6 днів тому

      I had to pay 4K last year. I've never had to pay that much extra!!!!

  • @spgrammie51
    @spgrammie51 Рік тому

    Federal tax as not been coming out of my paycheck for some reason. I talked to HR and they said I need to check the little box under 2C. Is that correct? I had to pay this past tax season and don't want to in 2023. Thank you!!

    • @spgrammie51
      @spgrammie51 Рік тому

      I must admit I'm confused!

    • @TravisSickle
      @TravisSickle  11 місяців тому

      No, use the online estimator and don't ask HR for help. They're not allowed to help.

  • @deeflow7348
    @deeflow7348 Рік тому +1

    Smh, thanks for the info

  • @maximiliano1761
    @maximiliano1761 9 місяців тому

    So we can just sign it and claim no exceptions? If that’s an option I just rather do that. My wife works various per diem Jobs’s. Her income is not the same every year or even every month.

  • @erikerwin9664
    @erikerwin9664 8 місяців тому

    Does my wife also take out the same amount on her W4 at her work or do we only take the taxes out on my paycheck since I’m the higher earner?

    • @TravisSickle
      @TravisSickle  8 місяців тому

      when you completed it together, you'll get 2 w4 at the end. One for you, one for your spouse.

  • @catherinelucas2993
    @catherinelucas2993 3 місяці тому

    What is one spouse is not working and just dependent because of disability

  • @wittttttt
    @wittttttt Рік тому

    Is there a similar calculator for NY state?

    • @TravisSickle
      @TravisSickle  Рік тому

      I don't do state withhold videos -- just not enough interest for videos on it.

  • @DauthiSlayer
    @DauthiSlayer Рік тому +3

    How about talking about Step 2 , option C where both married folks simply check the box if they are "similar pay' jobs (i.e, same tax bracket?). You literally have that highlighted in your form, that you can see in the video and you dont even discuss it. Would have been nice to spend a minute or two going over that one. Thats the one I want to use, and was hoping to get more insight into (do i need to fill out any other sections, if i check that box? No clue! would have been nicce to know!).

  • @tedskandy
    @tedskandy Рік тому

    what to fill in for 31200 26 weeks for w4? what do I do? just started today and asked to fill in w4 one job joint filing

  • @BrandiDWilliams
    @BrandiDWilliams 11 місяців тому +1

    Did I miss the exemption part? Was that the zero at the first section of this form?