How to fill out W4 SINGLE W-4

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ClearValue Tax

ClearValue Tax

Күн бұрын

Пікірлер: 845
@trousersnakes8855
@trousersnakes8855 4 жыл бұрын
This guy is teaching me how to be an adult at the age of 27.
@kooldwn123
@kooldwn123 4 жыл бұрын
I’m here a day later .. oh & im 27 🥴
@geodude6244
@geodude6244 3 жыл бұрын
Don't grow up it's not worth it
@myles7344
@myles7344 3 жыл бұрын
Also to grease your hair back, to add some swegg.
@MrForthepunx
@MrForthepunx 3 жыл бұрын
Im 30 still dont know how either lol
@chicagorc3967
@chicagorc3967 3 жыл бұрын
Im about to be 29 next month and im here bro bro. It happens
@stacychambers1814
@stacychambers1814 4 жыл бұрын
Finally! Someone who explained the new W4 form without making me feel confused or stupid! Thank you!!!!
@clearvaluetax9382
@clearvaluetax9382 4 жыл бұрын
Thank you Stacy for the feedback, I greatly appreciate that kind comment. I'm happy it helped!
@kristinabrownlee8916
@kristinabrownlee8916 4 жыл бұрын
Yes!!! Honestly! My employer made me feel so stupid!!!!!
@charliesusterich8744
@charliesusterich8744 4 жыл бұрын
In past years I've claimed myself (1) somewhere on the w-4 but I don't know about that now. Im single, no dependants and make ~59,000/yr. Do I just leave the page blank?
@JimmieZaccai
@JimmieZaccai 3 жыл бұрын
@@clearvaluetax9382 Hi, I have quick quesrkon. I'm listening to your video. In 2020 W4 I'm single filer, no dependent. For Step 4 box B under deductions. I inputted $12,400. Is this okay?
@FelixBibian
@FelixBibian 4 жыл бұрын
school really “taught” us the important stuff like dinosaurs
@princessleyla
@princessleyla 4 жыл бұрын
I'm so angry about it. No practical life skills whatsoever.
@Lovekai888
@Lovekai888 4 жыл бұрын
Fr lol
@pingneoo
@pingneoo 4 жыл бұрын
I’m actually taking a class teaching me all about these things and I’m a senior in highschool :) my teacher just linked this video
@Lovekai888
@Lovekai888 4 жыл бұрын
Pinguino Linny 💯💯💯
@projectblitz7290
@projectblitz7290 4 жыл бұрын
Idk, taking a tax course sounds like a waste of time. The dude literally said at the start of the video that this form is completely different from last years. You'd have to take a tax course every year to always stay up to date. This dude's an accountant and a tax worker so it's his job to stay on top of it.
@DrineThePoet
@DrineThePoet 3 жыл бұрын
I wish they would teach these things in high school. Basic life things like credit and taxes etc. Great video
@minceraftfornite4334
@minceraftfornite4334 3 жыл бұрын
Yea I know they like to teach unnecessary subjects that most ppl won’t use
@sheogorath2657
@sheogorath2657 3 жыл бұрын
They do now just didn’t really soak it up because it was gone over quick in a class called faulting
@tiffygirl83
@tiffygirl83 4 жыл бұрын
I called the IRS to see if someone could walk me through it. The first person told me, “the instructions are at the bottom” 😕 I’m calling because I don’t understand! I was transferred and was told, “we weren’t trained on the new form” 🙄🙄🙄🙄🙄 I’m glad I found this video. Thank you!
@tustinnrent8502
@tustinnrent8502 3 жыл бұрын
LOL.
@once4all125
@once4all125 3 жыл бұрын
big yikes @/irs
@airsoftkingman
@airsoftkingman 3 ай бұрын
I just filled out a w-4 and it almost seemed too easy so I came here to make sure I wasn't missing anything. Thank you for the video and taking it step by step
@BoazsCrown222
@BoazsCrown222 4 жыл бұрын
Thank you SO MUCH for this straightforward explanation! I just started a new job today and was unable to fill out the W4 because I was getting confused with regards to my child dependent credit and my standard deduction... But I see now. Thank you again! You are a lifesaver:)
@clearvaluetax9382
@clearvaluetax9382 4 жыл бұрын
Thanks for such a thoughtful and wonderful comment, I appreciated that message very much Steffi. Thank you!
@lauradeb222
@lauradeb222 4 жыл бұрын
This totally helped me fill out my w-4 for my new job! Thankyou for making such a simple yet very helpful video!👏💚
@clearvaluetax9382
@clearvaluetax9382 4 жыл бұрын
Thank you Laura for the feedback and for the nice comment! I appreciate it!
@yummymami1
@yummymami1 4 жыл бұрын
So I'm single, one job, no kids or other dependents. My understanding is I just fill out the top part (name, SS, address) sign and date, and that's it?
@clearvaluetax9382
@clearvaluetax9382 4 жыл бұрын
Hi PandaKitty, yes, that's correct. You're just filling out STEPS 1 and 5 in your situation and then you're complete. I know it feels like you're missing something, but nope, that's it and you're good to go. Thanks for watching PandaKitty and thank you for your support!
@yummymami1
@yummymami1 4 жыл бұрын
@@clearvaluetax9382 Thanks very much!
@2222-y8h
@2222-y8h 4 жыл бұрын
Thanks u for asking the same question I had. Thank u video guy for answering subscribed!!!👍
@officemanager9133
@officemanager9133 4 жыл бұрын
@@clearvaluetax9382 My daughter is single, one job, no kids but wanted to Claim 1 - can she not do that? She wanted to get a little extra in her checks each week instead of claiming 0. Thanks!
@abirose84
@abirose84 4 жыл бұрын
Thanks for asking the same question.
@DraCuLrX8
@DraCuLrX8 3 жыл бұрын
28 , had 3 jobs I just now learnt this properly thank you sir
@laurendemerath9914
@laurendemerath9914 3 жыл бұрын
This was helpful! I haven't learned the basics of financial "adulting" and it makes me feel ashamed and embarrassed. Watching this videos makes me feel like I'm not alone and more confident that I can master the basics. Please keep making these awesome videos. Thank you :D
@angelcid6628
@angelcid6628 3 жыл бұрын
This video helped me out more than any teacher I had in the past. THANK YOU MR. KIM!!
@detaildummy3227
@detaildummy3227 4 жыл бұрын
Watching this during orientation, you’re a life saver!!! Thank you 🙏🏾
@dejalockley6661
@dejalockley6661 4 жыл бұрын
HR here, I’m glad I found your channel. I watched the other video first, but your videos are very helpful!
@clearvaluetax9382
@clearvaluetax9382 4 жыл бұрын
Thanks again Deja! Thanks for the two posts, you are awesome and thanks again!
@neonnoir9692
@neonnoir9692 3 жыл бұрын
I'm still confused - I have one job, single, no kids, and I still get way too much taken out of my checks with the standard deduction. What do I need to do to have less taken out of my check (essentially claiming "2" on the old form)? I want to come as close as possible to breaking even.
@carlasingleton1529
@carlasingleton1529 3 жыл бұрын
That is where I am at. I used to be able to use 3 allowances and just pay back at tax time. I need my money during the year, I do not want a refund. That is stupid to me.
@kaddo244
@kaddo244 3 жыл бұрын
@@carlasingleton1529 I have the same problem. Did you find out how to fill out the form as if we would claim 2 on the old w-2 form?
@alxcross1850
@alxcross1850 3 жыл бұрын
They changed it to Purposely screw us over
@Blue_SeaSmoke
@Blue_SeaSmoke 4 жыл бұрын
Gosh I just want to know how to get a less amount of taxes taken out. It was so much easier when the had the allowance option. What replaces the allowance option? I don’t want the irs having a interest free loan with my money
@clearvaluetax9382
@clearvaluetax9382 4 жыл бұрын
Hi Phoenix, please see my other W-4 video which explains and shows how to get to break-even. Thank you!
@joshpark4890
@joshpark4890 4 жыл бұрын
@@clearvaluetax9382 The other videos doesn't explain anything! You said to "fill it out correctly" that doesn't tell me anything.
@badjay2443
@badjay2443 4 жыл бұрын
Yoo phx you find out how ? Yet
@mcasas5
@mcasas5 3 жыл бұрын
I filled out section 4b to have less taxes taken out. You can calculate the amount on page 3.
@holistictrish
@holistictrish 4 жыл бұрын
For an accountant, you are very enthusiastic. 4th video in the last hour already. Appreciate the concise videos. Keep it up!
@versailles9535
@versailles9535 3 жыл бұрын
I’m 20 and so confused. Thank you. So much. For helping me understand.
@veronicahill5288
@veronicahill5288 2 жыл бұрын
Best video I've come across. This W-4 was confusing. Thank you
@tyreekjackson6311
@tyreekjackson6311 4 жыл бұрын
This really helped a lot. I'm 17 years old and had no idea how to fill this out and you helped so much. Thank youu
@lisbethpaulino5303
@lisbethpaulino5303 3 жыл бұрын
Same! But do I just do step 1 and 5 if I don’t have a job at the moment too?
@Insomiac115
@Insomiac115 3 жыл бұрын
School taught me Geometry, and Precal but didn’t show me how to fill out a W-4 before graduating last year🤦🏾‍♂️😂I got a couple of these to fill out and know how. Thank you
@celestemarieee
@celestemarieee 4 жыл бұрын
Thank you so much for this video! I tried to get help from my mom filling this out but she was just as clueless as I was haha, this was very informative, so thank you :-))
@clearvaluetax9382
@clearvaluetax9382 4 жыл бұрын
Thank you Celeste for the kind words and I'm so happy to hear this video helped! Best wishes to you and your Mom, thanks for watching and thanks for your support!
@kdefensemartialarts8097
@kdefensemartialarts8097 2 жыл бұрын
Thank you for your videos.
@saulgonzalez2080
@saulgonzalez2080 2 жыл бұрын
Finally someone with brains 🧠 thanks brother
@emilyscherer5127
@emilyscherer5127 4 жыл бұрын
Thank you so much for the video! I was totally lost being given the new form to fill out, and found your instructions to be succinct and comprehensive.
@adarshbajaj8433
@adarshbajaj8433 4 жыл бұрын
Thank you Brian Kim for the clear concise and informative videos. I have subscribed to your channel and we listen to all your postings. Thank you for sharing your knowledge.
@clearvaluetax9382
@clearvaluetax9382 4 жыл бұрын
Thank you Adarsh for the kind words and the feedback, I greatly appreciate it! I'm just trying to help as many people as I can before tax season starts to hammer down on me. But thank you so much for watching and the support Adarsh, you are awesome!
@southpaw7364
@southpaw7364 4 жыл бұрын
Great video. I'm a little confused. I filled out a W4 back in October of 2019. I didn't claim my son so I get more money back every year. I noticed when I got my tax form from work, no taxes were taken out. :( What did I do wrong. I would like to get the most money back come tax time. Thanks
@heathermills5942
@heathermills5942 3 жыл бұрын
Hi, question on this. I use to claim myself on the old w4 to get a little more in my paycheck & less of a refund at tax time. How do I do this on the new form? I am single no dependents no mortgage. Thanks!
@CouldntThinkOfaUsername
@CouldntThinkOfaUsername 3 жыл бұрын
I had the same question !
@TheJayrockerr
@TheJayrockerr 3 жыл бұрын
I had the same question, as well.
@gloriajuwelllll
@gloriajuwelllll 3 жыл бұрын
Did you ever get an answer ???
@florcorazon1397
@florcorazon1397 4 жыл бұрын
Thank you soo much! After watching your video, I feel less stressed out, and I can go to sleep and not have to keep thinking about this form anymore....its ready, done filled out for tomorrow thanks to your greattttt video.
@tracytaylor2786
@tracytaylor2786 4 жыл бұрын
Dear God thank you! Had to complete one today and it made no sense! Thank you for explaining!!
@brandiwiles-evans9581
@brandiwiles-evans9581 4 жыл бұрын
Thank you! This video will be a great resource to share with my high school students who are getting their first jobs.
@SavageCivilian3
@SavageCivilian3 4 жыл бұрын
Wanted to first say thank you for taking the time to make these videos AND get back to everyone's question even though alot of them are asking the same thing. I've tried to do my due diligence and read your answers so not to have to ask my own question but there still is no help for someone like me starting a new job now so I cant just reference back to my last tax return for the exact amount because its simply different and I have no clue the exact amount I'll be making this next year.... so my question is for someone like me starting a new job making hourly and commission, single with just this one job no kids and no mortgage how in the hell am I spose to accurately fill this out lol? I'd like to "claim 1" but that's technically impossible with this new form. Thanks again for all your time! Your a saint! P.S I guess I'll just keep it simple and claim 0. Why do I feel like this is a ruse to just keep people from denying the government their interest free loans??
@clearvaluetax9382
@clearvaluetax9382 4 жыл бұрын
Hey OG, thanks for the kinds words brother. So let me break down your situation: - You're not married and you don't work more than 1 job at a time, so you can skip Step 2. - You don't have kids or support anyone else, so you can skip Step 3. - If you have investment income or a side hustle, you'll need to input that into step 4(a) - In your specific situation, you will not be itemizing your deductions because you won't have mortgage interest and I'm assuming no large OUT OF POCKET medical expenses or large amounts of charitable donations, so you will leave 4(b) blank So you just need to fill in Step 1 and Step 5 and you're done. Claiming "allowances" was the old system. The whole "system" is changed. It's comparing apples to oranges now looking back at the old system so there's no "equivalency" for what "1 allowance" can be translated to the 2020 system or format. I hope that helps.
@SavageCivilian3
@SavageCivilian3 4 жыл бұрын
@@clearvaluetax9382 much appreciated! So I was right when I said just another way for the government to jerk us around trying to confuse and control. Thanks brother.
@AJlooovesPocky
@AJlooovesPocky 3 жыл бұрын
Simple and straightforward explanation, i just got a new job and this helped me out so much🙏 thank you!!
@PowerAirSimulations
@PowerAirSimulations 3 жыл бұрын
What would you have to do if you just wanted to claim yourself? On the old W4 it was very easy by choosing zero or one. now they made a little more complicated so if I wanted to just claim one ( myself) what would I need to do?
@daniellesully86
@daniellesully86 4 жыл бұрын
Thank you! This was much needed for me since I'm single, only have one job and don't have no mortgage or dependents.
@clearvaluetax9382
@clearvaluetax9382 4 жыл бұрын
Thank you for the feedback Danielle! I appreciate it!
@kvbo2564
@kvbo2564 4 жыл бұрын
So no more exemptions in the new form? It currently says I have 0 exemptions in my paycheck and I can't shift it to 1, which I could have before 2020. I'm single this year (finalized divorce in 2019). I would like to get more money in my paycheck and break even vs. getting a large return at the end of the year. How do you calculate the equivalent of 1 exemption on this form?
@dieanahwilliams9111
@dieanahwilliams9111 3 жыл бұрын
Thank you so much Brian for this video so I can have a better understanding a w-4 form I fill one out for the first time I just had double check because I always overthink everything.
@marlenecervantes4036
@marlenecervantes4036 4 жыл бұрын
Great video! I have a question for step 2. How would I fill out that section for my higher paying job? Do I still check it? I am single and currently have a full time and part time job that is lower paying.
@clearvaluetax9382
@clearvaluetax9382 4 жыл бұрын
Hi Marlene, you only fill out STEP 2 of the W-4 at your higher paying job. You have to use those charts and follow the instructions. It ultimately leads you to input a value on STEP 4 (C).
@jacobbozeman2364
@jacobbozeman2364 4 жыл бұрын
Is there no longer a way to claim yourself on your w4 at the beginning of the year, to reduce how much taxes are taken out of your paycheck? The old form had a line 5 that asked for total number of allowances you are claiming. But I no longer see that option on the new w4
@decode0791
@decode0791 3 жыл бұрын
You.Are.A.Lifesaver. Thank you for making this available as a resource!!
@daisyystephanyy
@daisyystephanyy 4 жыл бұрын
thank you for this, I love watching your videos. NO ONE teaches us these things.
@dylank7132
@dylank7132 4 жыл бұрын
I just wanted to clarify. I understand that completing just step 1 and step 5 on the form gets you closest to SINGLE 0, or closer to breaking even. But if a person wanted to make sure there they got a refund when filing, where would they add that dollar amount to overpay? Also, how would one determine that dollar amount? Thanks!
@clearvaluetax9382
@clearvaluetax9382 4 жыл бұрын
Hi Dylan, you would write that amount on 4(c), however, that amount is the amount PER paycheck. In theory, if you fill out the W-4 correctly, you'll be close to break-even and any amount on line 4(c), multiplied by how many paychecks there are for you in a year, will be your refund amount. I hope that helps!
@Herm05g
@Herm05g Жыл бұрын
So if we dont have dependents we dont fill out part 4b? I've always done tht section using the single amount given. The standard deduction amount i got is not used on the W4 either.Thanks for this video!
@bobbiescott1116
@bobbiescott1116 4 жыл бұрын
Thank you for the video and explanation on the new W4! I was lost trying to fill it out.
@clearvaluetax9382
@clearvaluetax9382 4 жыл бұрын
Thanks for watching Bobbie and I'm happy it helped! You rock!
@templedamico1906
@templedamico1906 4 жыл бұрын
Very helpful walk thru of new W4
@clearvaluetax9382
@clearvaluetax9382 4 жыл бұрын
Thank you Temple, I appreciate the feedback!
@attishahudson8491
@attishahudson8491 4 жыл бұрын
Thank you for taking your time to make this informative video. Very helpful
@clearvaluetax9382
@clearvaluetax9382 4 жыл бұрын
Thank you Attisha for watching and for the feedback! Thanks for supporting us, I appreciate it!
@vincentnichols402
@vincentnichols402 4 жыл бұрын
Well done you are the best
@Bruvclk
@Bruvclk 4 жыл бұрын
I never knew how easy it is to fill out a W-4 thank you very much this was very helpful
@dianarincon6290
@dianarincon6290 4 жыл бұрын
Thank you for making a single one video separately, your awesome 😎
@kesia10123
@kesia10123 4 жыл бұрын
Question: I'm filling out a w4 for an employer and was curious if I fill out 4b deduction part if I have student loans that I will start to pay soon?
@TheSinsalida
@TheSinsalida 4 жыл бұрын
Literally the best video out there. Thank you sir
@redline6784
@redline6784 3 жыл бұрын
The most helpful video I've ever watched!
@TheJosa007
@TheJosa007 4 жыл бұрын
I continue to be your biggest fan!
@donblazar2883
@donblazar2883 4 жыл бұрын
I’m single with one job, no kids, no mortgage and did exactly what you said In the video but my payroll department said I did it wrong.
@clearvaluetax9382
@clearvaluetax9382 4 жыл бұрын
Don, in your scenario, you'll complete Step 1 and Step 5 and you're complete. Next time, you should ask them what you did wrong.
@69jdwalt
@69jdwalt 4 жыл бұрын
@@clearvaluetax9382 same here. My work said I need to put an amount of how much I want taken out. Also, I have a kid, but only get 50/50 custody, and my kid is there most the time. Would I still put my kid down?
@dsacupuncture7250
@dsacupuncture7250 4 жыл бұрын
Thank you for video! Can you clarify when to check head of household - I checked head of household since I pay for more expenses for my daughter. Also - I don't think you went over 4C? I was writing in extra withholdings to take out for previous forms and now I am not sure how to write in a specific deduction amount without having more money taken out. Also - will the correct amount be taken out if you just claim dependent and check 1c correctly? Thank you so much!
@codykangiser3448
@codykangiser3448 4 жыл бұрын
I filed 0 on my 2019 W-4 Form, which I believe is the standard $12,400. I’ve been on the standard deduction 80% of the 2020 year and I want to file another W-4 form to reduce my withholding for the rest of the year. Where in the form do I propose how much I want to decrease my withholding by?
@onyinyechiigwe7757
@onyinyechiigwe7757 4 жыл бұрын
Can i claim myself as a dependent cos i am single with no children or dependent?
@clearvaluetax9382
@clearvaluetax9382 4 жыл бұрын
Hi onyinyechi, you will not be claiming yourself on the new W-4 2020 version because the new W-4 2020 version already factors that in. So do not claim yourself as your own dependent, otherwise, you will be double-counting yourself. I hope that helps, thank you for watching and for your support onyinyechi!
@thomass376
@thomass376 4 жыл бұрын
@@clearvaluetax9382 Thanks so much. I was looking for this.
@therantwithgrant2051
@therantwithgrant2051 3 жыл бұрын
Yes you do. Higher mark just means less taxes taken out. If you don't mark anything you're just giving our shitty government an interest free loan. My brother in law marked 10 before he had any kids and he was fine. Never owed the irs and got most of his money on paycheck.
@helenkalognomos
@helenkalognomos 4 жыл бұрын
Hi again! What is the main difference between the current and past W-4s, and why did they change them, and who does that change benefit? Is there a current equivalent of claiming 1 on the old form? (thats what i used to claim). What are they asking us to do in Step 4 - make up a dollar amount of what we think should be withheld? (why is that so hard, and what should i base it off of?) Ive filled out one w-4 this year and I put 0 in step 3 and left the rest blank bc I didn't know how to fill it out. I was caught off guard. Thank you!
@clearvaluetax9382
@clearvaluetax9382 4 жыл бұрын
Hi HK, they revised the method of calculating and completing the W-4 because this version should be more accurate, because as you can see, they're asking you many more questions rather than just claiming "0" or "1", etc... This answer would be easy to answer in most situations, however, in your situation it's much more difficult because I just read your comment that you're working W-2 and 1099-MISC jobs. Jeez, in that situation, it's going to be very difficult to accurately withhold in your situation since you have different TYPES of income and SOURCES of income. If you have 1 job as your primary job that pays the majority of your income, in that circumstance, it would be easier by inputting a value in STEP 4(c), kind of as you mentioned. But what value to be inserted depends on your situation, in your case, there are so many variables.
@helenkalognomos
@helenkalognomos 4 жыл бұрын
@@clearvaluetax9382 Gotcha. Thanks for the reply. Where can I learn how to guesstimate in a situation like mine? Would it work to reference last years' withholdings per paycheck and payroll company? And if i leave it blank does that mean that nothing will be withheld in which case I will get all my money and should do estimated taxes or are those only for 1099s?
@karengonzalez9065
@karengonzalez9065 4 жыл бұрын
Very, very helpful. Best video I’ve seen. Thank you!
@clearvaluetax9382
@clearvaluetax9382 4 жыл бұрын
Thank you so, so much Karen! Thank you for the feedback and for your support, I appreciate it Karen!
@girl600podcast
@girl600podcast 4 жыл бұрын
Great walkthrough . Thanks
@clearvaluetax9382
@clearvaluetax9382 4 жыл бұрын
Thanks for watching and for your support Mary, I appreciate it!
@gokangho
@gokangho 4 жыл бұрын
Thanks for the video. If I’m married, and filing jointly and both of us work, do both of us need to file and update the W-4 with the same info or just one of us?
@clearvaluetax9382
@clearvaluetax9382 4 жыл бұрын
Hi Daniel, just the higher earning spouse needs to complete the W-4. However, make sure the other spouse DOES NOT complete STEPs 2,3,4 if they do intend to update their W-4.
@roselabayos4913
@roselabayos4913 4 жыл бұрын
Hello... What's the explanation for section 4c? Thanks for the video.
@justcommenting4981
@justcommenting4981 3 жыл бұрын
Any advice on projecting your property and home interest tax deductions if you've only owned a house for the current tax year and have no historical basis?
@JamesWilliams-qt4hl
@JamesWilliams-qt4hl 4 жыл бұрын
Thanks for the help...quick question on the part where it says first date of employment where could I get this info...I'm getting paid through the insurance more than 2 years now
@clearvaluetax9382
@clearvaluetax9382 4 жыл бұрын
Hi Trapstar DMV! You'll have to ask your HR, they'll be able to pull that up real quick.
@JamesWilliams-qt4hl
@JamesWilliams-qt4hl 4 жыл бұрын
@@clearvaluetax9382 ok thanks
@boomitsjennyg.7517
@boomitsjennyg.7517 4 жыл бұрын
So by filling out lines 1 & 5 on the 2020 form as single with no dependants...does that make you automatically claim "0"? I usually claim "0" so I get a bigger refund. Just making sure that's how it's still going to work..
@clearvaluetax9382
@clearvaluetax9382 4 жыл бұрын
Hi Jennifer, no, you won't get a big refund. You can refer to this video that explains it: kzbin.info/www/bejne/rnnJlIZql958kKc
@ciarrawaffle6669
@ciarrawaffle6669 4 жыл бұрын
I thought I was doing it wrong by only doing step one and step 5. Thank you
@labbrx4866
@labbrx4866 3 жыл бұрын
Taxes might be boring but MONEY, my love....never has been xD Thank you for this video.
@johnwilliamsoniii3936
@johnwilliamsoniii3936 4 жыл бұрын
Silly question, but can I still claim myself or is that not possible this time around?
@clearvaluetax9382
@clearvaluetax9382 4 жыл бұрын
Hi John, there are no loner any more claiming of "allowances" any more. Claiming more allowances, such as yourself, resulted in you withholding less taxes on your paycheck. If you want the same result, to withhold less taxes on your paycheck, then you'll need to make the modifications in either STEP 3 or STEP 4. I hope that helps!
@aricakitchen3236
@aricakitchen3236 4 жыл бұрын
Thank you so much simple and straight to the point
@iAMSpeedy213
@iAMSpeedy213 4 жыл бұрын
I work for Amazon, and will have another job starting in weeks. I have no kids, not married, not paying rent or any of that. Starting sept 14th, it means I’ll have 2 jobs: a part time and full time (professional). So step 3, I just put in zeros right?
@nataliestewart1787
@nataliestewart1787 4 жыл бұрын
Hi great video. Got one clarification.... If I am close to the standard deduction with my house mortgage and etc. Should I leave 4b blank. For 2019 my itemized deductions were 11,200. Also do I use 4c to take out just a little more in total or each week. Thanks in advance.
@suzannaelsner1858
@suzannaelsner1858 4 жыл бұрын
Thank you for this informative video
@clearvaluetax9382
@clearvaluetax9382 4 жыл бұрын
Thank you Suzanna for watching and the feedback, I appreciate it!
@litarbaby3568
@litarbaby3568 4 жыл бұрын
You the best
@clearvaluetax9382
@clearvaluetax9382 4 жыл бұрын
Thank you Litar Baby, YOU are the best!
@Jlos6
@Jlos6 4 жыл бұрын
Thank you, very helpful
@clearvaluetax9382
@clearvaluetax9382 4 жыл бұрын
Thank you Justin for the feedback, I appreciate it! Thanks for your support!
@Jlos6
@Jlos6 4 жыл бұрын
ClearValue Tax no problem thank you for helping everybody and doing it in such a clear and understanding way
@mejiacarla
@mejiacarla 4 жыл бұрын
hi! thank you this is great. what if i have a LLC for 2 years and just got a part time remotely w-4 job. Is it just filling out part 1 & 5. ?
@dripmode
@dripmode 4 жыл бұрын
thank you so much for making this video
@jochemocramirez2148
@jochemocramirez2148 4 жыл бұрын
Thanks bruh... my employer saying read it again... I'm like ahhh... by you saying it is more understandable than reading this Forms... thanks again!!!
@c.m.k.4840
@c.m.k.4840 4 жыл бұрын
Thank You so much, finally found the information that I need and filled out my form.
@Sexpistolz
@Sexpistolz 4 жыл бұрын
Thanks man fo real I appreciate this video made it so much easier god bless
@clearvaluetax9382
@clearvaluetax9382 4 жыл бұрын
Thanks so much for those kind words Irvin, I appreciate it!
@pedronaranjo1123
@pedronaranjo1123 4 жыл бұрын
Thank you so much Brian
@clearvaluetax9382
@clearvaluetax9382 4 жыл бұрын
My pleasure Pedro, thank you for watching!
@emilynieves711
@emilynieves711 4 жыл бұрын
Thank you so much! Very nicely detailed
@XaymacanCola
@XaymacanCola 4 жыл бұрын
I started a new job first the week of January I am head of household and claim two kids They have barely taken out any federal taxes. Now I’m worried I have to increase my withholding because I will underpay, I’ve brought this to the attention of payroll I’m just not sure if it’s the payroll software or I should change to single. I referred to your video when filling out the W4 I’m just concerned about owing😩.
@clearvaluetax9382
@clearvaluetax9382 4 жыл бұрын
Hi Nikki BeeTV, I don't know how much money you make but if you're head of household with two kids then the first $55,000 that you make will be tax free. If you're making way over that then yes, there's a problem, if not, then that sounds right. Thank you for watching Nikki and thank you for your support, I appreciate it so much!
@XaymacanCola
@XaymacanCola 4 жыл бұрын
ClearValue Tax thank you so much for responding. Yes I am over that amount so I will continue to monitor and make adjustments. Thank you for creating this Chanel I will definitely continue to support.
@carolj2013
@carolj2013 4 жыл бұрын
Thank you for such a clear and concise explanation. My question is this. In the past, I would adjust my withholdings on my W-4 so that less taxes were taken out for a specific paycheck, e.g. a month I have three paychecks, I would change my withholdings to 10 and have no taxes taken out for that one paycheck. After I received that paycheck, I would revert my withholdings back to "0". This practice has allowed me to keep my money throughout the year and when I file my return, I'm usually either getting back or owing
@clearvaluetax9382
@clearvaluetax9382 4 жыл бұрын
Hi Carol, yes, you can exactly get the results that you want. I have my next video explaining this, it will be released in about 9 hours from now. Let me know if you have any questions there, thank you Carol!
@keriannerose8223
@keriannerose8223 4 жыл бұрын
So incredibly helpful, thank you so much!!
@clearvaluetax9382
@clearvaluetax9382 4 жыл бұрын
Thank you Kerianne for the feedback, I appreciate it!
@moonlightxwolfx
@moonlightxwolfx 3 жыл бұрын
Thank you so much very well explained!
@amandapandagurl
@amandapandagurl 4 жыл бұрын
Very helpful thank you!
@clearvaluetax9382
@clearvaluetax9382 4 жыл бұрын
Thanks again xMzXqvizitex, you are the best!
@wyndanc
@wyndanc 4 жыл бұрын
So if you claimed allowances on the old 2019 w-4 are they still using that w-4 going into 2020? Or is it that since this new w-4 is in effect all allowances are wiped clean from everyone no matter if you’ve filled out a new (2020) w-4 or not?
@clearvaluetax9382
@clearvaluetax9382 4 жыл бұрын
Hi Wyndanc, I'm not sure how your payroll department translates or carries over the 2019 settings to your 2020 version. I'm expecting there to be a LOT of surprises with messed up 2020 settings on next year's tax return.
@wyndanc
@wyndanc 4 жыл бұрын
ClearValue Tax yeah I’ve contacted my Dept and they pretty much said that we don’t have to fill out the new one. So I think that they will continue to use our 2019 w-4. Is it okay if I inbox you?
@micheallee5313
@micheallee5313 4 жыл бұрын
P.S - Thanks bro you the man you really help me out filling out this W-4 tax form because I was scratchin my head on what to do..
@edwardwood6532
@edwardwood6532 4 жыл бұрын
Thank you so much for this video.
@mjelliot67
@mjelliot67 3 жыл бұрын
Great information! Thank you
@RE2PECT
@RE2PECT 4 жыл бұрын
So by filling this new w4 out I would be seeing more money on my paycheck? Since this is going to make me break even if I fill everything correct? The old system I normally get 1500-1800 back every year. I was single 0
@bereniceurbina8085
@bereniceurbina8085 4 жыл бұрын
Thank you so helpful
@damonsta80
@damonsta80 4 жыл бұрын
Your the best
@thehala8914
@thehala8914 4 жыл бұрын
Thank you! That was very helpful.
@strtg3y3r
@strtg3y3r 4 жыл бұрын
This was very helpful
@pajnyiaghawj
@pajnyiaghawj 4 жыл бұрын
So, if I fill out line 1 and line 5 due to being single, one job and no dependent, when it comes to my payroll, would they be taxing out more?
@clearvaluetax9382
@clearvaluetax9382 4 жыл бұрын
Hi Pa Her, in that situation, if you only complete STEPs 1 and 5 then you should be at break-even results when you do your tax return if STEPs 2,3,4 do not apply to you. I hope that helps! Thanks for watching and for your support Pa Her!
@Solo-wg7gz
@Solo-wg7gz 4 жыл бұрын
Hello, I’m confused on what to put for deductions. I am single/head of household and would like to claim 9 as a dependent. Should I do $500 x 9? Please let me know if that’s the right step
@burmesebandit9906
@burmesebandit9906 Жыл бұрын
If it's children under 17.. it's $2000×9
@Txi-br1wb
@Txi-br1wb 3 жыл бұрын
You're the real MVP!
@sparky3414
@sparky3414 4 жыл бұрын
I've seen three of your videos on this, sill not sure. Single no dependents. How do I get to 4 exemptions with an additional $7 per check and get a small of money back (a few hundred dollars back say $500 back) on My return to pay My accountant and taking into account that I often get the (EIC) Earned income credit (maybe $200)? The advice I got was put $8,000 on W-4 line 3 with an additional $7 per pay check. How would you do it?
@clearvaluetax9382
@clearvaluetax9382 4 жыл бұрын
Hey Sparky, your accountant would probably know best because they see all your details. A big factor is your expected income level.
@lorton190
@lorton190 4 жыл бұрын
you are a life saver, thank you so much
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