W4 & Tax Questions

• If you want a BIGGER Tax Refund then you'll get smaller paychecks throughout the year.
• If you want BIGGER paychecks throughout the year, then you'll get a smaller Tax Refund or could possibly owe taxes.

• If you claim Single on your W4, then you'll receive a BIGGER Tax Refund than claiming Head of Household or Married Filing Joint.
• If you claim Married Filing Joint on your W4 then you'll receive bigger paychecks than claiming Single or Head of Household. 

• If you check the box on Step 2 of your W4, you'll receive a bigger refund and your paychecks will be smaller. 

• If you claim dependents on Step 3 of your W4 then your Tax Refund will be smaller.
• If you claim $0 on Step 3 for dependents then your Tax Refund will be bigger.

• If you put any amount on line 4a or 4c then your Tax Refund will be bigger.
• If you put an amount on line 4b then your Tax Refund will be smaller and your paychecks will be bigger.

• If you are Married and both you and your spouse work, I always recommend that you both claim Married Filing Separate on your W4.

• If you have more than one job or source of income, I always recommend that you claim Single on your W4(s).

• Update your W4 in the beginning of every year, anytime your income changes and whenever you have a major life change.  

• If you are already one of my tax clients, then W4 assistance, tax consultations & tax advice is FREE all year round! If you are not my tax client yet, I would still love to help you! I offer W4 Assistance for $29.99 per taxpayer. Just click on "File 2023 Taxes" or "File Prior Years" and submit an inquiry. I will resume W4 Consultations again shortly.

  Q: When should I update my W4?

A: Every January AND every time you have a change in your tax circumstance . For example if you start a second job, 

have a baby, lose a dependent, get married, your spouse starts working etc. And there's no limit to the amount of 

times you can update your W4 through out the year, you can update it as often as you want.

Q: If I work 2 jobs, do I claim my dependent on both W4s?

A: No, you will only claim your dependents on one of your W4's, typically the one with the highest income.

Q: Should my spouse and I both claim the kids on our W4s?

A: No, only one of you would claim the kids on your W4. It would typically be the higher earner.

Q: Which filing status do I claim on my W4 if I want the biggest Tax Refund at tax time?

A: Single

Q: Doesn't claiming Head of Household on my W4 give me a bigger Tax Refund than claiming Single on my W4?

A: Nope! Claiming Single on your W4 will give you a bigger Tax Refund than Head Of Household 

because more taxes will be held out of your paychecks.

Q: If I file Head Of Household on my tax return, can I claim Single on my W4?

A: Yes, you can put whatever you want on your W4, it does not have to match the info on your tax return. And you can update 

your W4 as many times as you want. There is no limit to how many times or how often you can change it. 

Q: What is Step 2 for on the w4?

A: If you work multiple jobs OR if you are just starting a job and you worked a different job earlier in the year OR if your spouse 

also works OR if you have other income like gambling winnings, crypto sales, self-employment or any other kind of income,  

you will need to check the box on Step 2 so that your employer knows to hold more tax out of your paychecks. 

Q: How much do I put for dependents on Step 3 of my W4?

A. If your child will be under 17 years old as of the last day of the year, then you will put $2,000 on Step 3. If your child 

will be 17 or older as of the last day of the year, then you will put $500 on Step 3. If you have more than 1 child, you 

will just multiply $2000 or $500 times the number of dependents you will be claiming at tax time. 

Q: What do I put for dependents if I want a big Tax Refund?

A: Putting any amount on Step 3 for dependents will lower your Tax Refund. 

So for the Biggest Tax Refund, you would claim Single and $0 on Step 3. 

Q: When do I need to add additional withholding to Step 4?

A: If you are Single and make over $50,000, Head of Household and make over $70,000 or Married and 

make over $80,000 then you may need to add additional withholding. Also if you have 

more than one job, then you will need to add additional withholding to line 4c.

Q: What if I have self-employment income?

A: If you have self employment income and you also work as an employee, you can update your 

W4 at your job to withhold Income Taxes & Self Employment Taxes for your self employment income.  

First, you will need to check the box on Step 2 and then follow the instructions for lines 4a & 4c.

Q: What if I am not worried about getting a big refund, I just want bigger paychecks and I don't want to owe taxes at tax time?

A: Follow the instructions on all four pages of the W4 and complete all four steps as accurately as possible. The W4 is intended to 

make you break even at tax time. So if you follow the instructions for Steps 1-4, you should get close to breaking even for the 

year. This can be a challenge when you change jobs or have other big changes in your tax circumstances. 

Because your employer may not have been holding out enough tax in the beginning of the year.  

Q: Can you help me fill out my W4(s)?

A: Yes! If you are my tax client, then this service is FREE. If you are not a tax client yet, the service is $29.99. 

Just click on "File 2023 Taxes" or "File Prior Years" and submit an inquiry. 

I will resume W4 consultations again .