W4 (2023) - Married Filing Jointly
Option 1: Married but with TWO Income Family (spouse works)
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1A. You can file as Single on your W4.
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This option has no legal implications. This simply lets your company know how much to take out from your checks.
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You will still file Married Filing Jointly on your tax return (this is legal).
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You can click the link here to go to the instructions W4 for Single.
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1B. If you still prefer to File Married on your W4:
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Step 1:
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First Name
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Last Name
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Social Security Number
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Address
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Check the Box "Married Filing Jointly"
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Step 2 **** IMPORTANT ****:
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Check this Box (since you and your spouse are both working)
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If you missed this step or didn't check the box or your company doesn't process your W4 correctly, they won't take out enough taxes on your check and you will end up owing at the end of the year.
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Therefore, I usually recommend that you go with Option 1A (Single) so you won't run into the risk that they payroll processor mess up and forget to check the box on their system and this form didn't get processed correctly.
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Step 3 (Optional and Only if you claim children or dependents on your tax return):
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You normally get $2,000 Child Tax Credit for each child under 17 and $500 for child or dependents 17 and older
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If you want your receive more money upfront on your paycheck and break-even at the end of the year OR you might even end-up owing.
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Fill out amount = $2000 x ( # of children under 17 that you have)
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Fill out amount = $500 x ( # of children 17 and older or other adult dependents)
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I don't recommend that you're claiming the children on your paycheck as a way to save and get more tax refunds during tax seasons.
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If you want larger tax refund at the end of the year, then you can put $0 for all the boxes in this step.
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Step 4:
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If you owe the previous year or get very little tax refund, while claiming 0 dependents already, then I would recommend $20 - $40 EXTRA Withholding per pay period.
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Since 2018, there's a new withholding table and they don't take enough taxes out like before; therefore, I would recommend you to let them take a little bit extra out so you can have some cushions at the end of the year and will ensure you won't owe.
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Claim EXEMPTIONS ( DO NOT check this box)
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Sometimes when you fill out this form online, it asked if you want to Claim Exempt from Federal withholding
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NEVER check this option, it will cause the your company not to withhold tax during the year and you will end up owing a lot of money during tax season.
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Click here for W4 sample if you want to file Married (both you and your spouse work).
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Option 2: Married Filing Jointly with only ONE Income Family (spouse doesn't work)
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Step 1:
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First Name
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Last Name
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Social Security Number
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Address
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Check the Box "Married Filing Jointly"
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Please note that with this status, they would take half of what they normally take out for a Single person because your spouse doesn't work.
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Step 2 (Skip if your spouse does not work):
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Step 3 (Optional and Only if you claim children or dependents on your tax return):
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You normally get $2,000 Child Tax Credit for each child under 17 and $500 for child or dependents 17 and older
-
If you want your receive more money upfront on your paycheck and break-even at the end of the year OR you might even end-up owing.
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Fill out amount = $2000 x ( # of children under 17 that you have)
-
Fill out amount = $500 x ( # of children 17 and older or other adult dependents)
-
I don't recommend that you're claiming the children on your paycheck as a way to save and get more tax refunds during tax seasons.
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If you want larger tax refund at the end of the year, then you can put $0 for all the boxes in this step.
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Step 4:
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If you owe the previous year or get very little tax refund, while claiming 0 dependents already, then I would recommend $20 - $40 EXTRA Withholding per pay period.
-
Since 2018, there's a new withholding table and they don't take enough taxes out like before; therefore, I would recommend you to let them take a little bit extra out so you can have some cushions at the end of the year and will ensure you won't owe.
-
-
-
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Claim EXEMPTIONS ( DO NOT check this box)
-
Sometimes when you fill out this form online, it asked if you want to Claim Exempt from Federal withholding
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NEVER check this option, it will cause the your company not to withhold tax during the year and you will end up owing a lot of money during tax season.
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