How Do You Use A W-4 To Calculate Withholdings?
You can use your W-4 form to determine the amount of money to have human resources or your payroll department withhold from your paycheck for taxes. You may hate it, but everyone must pay taxes. Calculate your withholdings from your W-4 and you can make paying taxes a little easier. Examine the W-4 form. There are worksheets included to help you determine the right amount of exemption withholdings. You must include personal information on the form for your employer to use, such as name, address and social security number. Look over your most recent paycheck stub. Extract key pieces of information to determine the right amount of withholding for your taxes. Calculate your gross salary per pay period, non-taxable benefits, number of pay periods in a year and the expected tax amount (use last year’s as an example). Fill out the information required by the W-4 form including the number of exemptions. Sometimes, the true number of exemptions requires you to pay a large amount of taxes. You
