Paycheck Calculator and W-4 Creator
Paycheck based W-4 Estimator, Creator
Use the Paycheck Calculator or W-4 Creator below and, at the end of the calculation in section
P16.3, you will see your per paycheck tax withholding amount based on your selected pay period. You will find instructions on how to increase or decrease that tax withholding amount. When done, create the W-4 and the result of that W-4 will be based on your paycheck calculation results. Complicated? Yes, it might seem so, but since the W-4 is created this way, that is all we have to work with. The tool below will walk you through a simplified series of entries that will be used to calculate complete your W-4; contact a Taxpert. ® if you have questions
Either enter your actual paycheck amounts or estimate it. If your spouse has a job, do not combine the income, but create a W-4 for each person. See more options and tools to
calculate and create W4 forms to further optimize your tax withholding based on your individual estimated or actual income. Keep in mind that in most cases a tax refund is the result of too much paycheck tax withholding. In other words, a taxpayer would hand over hard earned income only to get this back in form a tax refund. A tax refund is generally NOT free IRS or government money, it's your money!
Creating a W-4 is simple with Taxpert! Use the tool to answer simple questions based on your paycheck. This way, you do not have to work on complicated IRS forms line-by-line nor have extensive tax knowledge.
Once you are done, take it a step further and estimate your annual taxes based on the W-4 tax withholding you have just calculated:
use the current year tax calculator.
Prepare to tax prepare - learn how to begin planning for your tax return by keeping track of your finances and their tax implications during the year.
Contact a Taxpert to discuss your individual W-4 planning challenges. ®
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