IRS Form W4 adding multiple Jobs FAST in 2023

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Travis Sickle

Travis Sickle

Күн бұрын

The video discusses how to update an IRS Form W-4 for one job while having multiple jobs. The online estimator is recommended to obtain the necessary numbers. The anticipated tax obligation and the projected amount owed are important numbers needed to calculate the adjustments needed to be made. One must be aware of the standard withholding amount for the job to accurately calculate the extra withholdings. It's a good idea to re-enter the numbers in the estimator after the next paycheck to ensure accuracy. Understanding how taxes work is essential, and one should not assume the projected amount owed is the exact amount to withhold.
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Пікірлер: 53
@Morgan9977
@Morgan9977 Жыл бұрын
Hi. I’m single no dependents …2 jobs and my taxes came back owe $5K 😳😳😳 what am I doing wrong?! This is ridiculous!
@TravisSickle
@TravisSickle Жыл бұрын
July 10, 2023
@DiannaFM
@DiannaFM 11 ай бұрын
I don’t understand this. It should not be so difficult. We should be able to simply claim how many dependents and be done with it. My daughters shows claiming zero and having $70 a week extra taken out. That is insane. They gave her 24 hours to complete it after she’s already worked there 5 days. She needs to go to a tax specialist for this insanity. It’s only for a $15 an hour job not a rocket scientist
@marcanthonyvolpe8327
@marcanthonyvolpe8327 2 ай бұрын
How could I find the standard amount? Because the 2024 withholding calculator doesn’t tell you that number and the other info as in your video.
@rpk5250
@rpk5250 Жыл бұрын
Great video. What’s the best way to account for one of the jobs being hourly with sporadic hours and overtime?
@TravisSickle
@TravisSickle Жыл бұрын
Estimate the taxes for the taxable year. The actual tax withheld will vary depending on the size of the check.
@metaltera86
@metaltera86 3 ай бұрын
I just don’t understand the extra withholdings on 2(c). I don’t wanna pay extra in taxes on top of the standard fed rate
@jennnyfish
@jennnyfish Жыл бұрын
Hi Travis, I am a substitute teacher and I am employed with multiple districts. With that, I have a separate w4 form with each district. I’ve tried using the tax estimator, however my monthly income is inconsistent for each district. Sometimes my monthly income for some districts is $0 because I did not work for them that month. And during summer months, I do not work at all. I cannot find any video or information on how to fill out a w4 form correctly for Substitute Teachers, I would truly appreciate it if you could help us out! Please help!
@TravisSickle
@TravisSickle Жыл бұрын
best thing to do is estimate. At the end of the day, you're trying to withhold the correct amount of tax for all your income. You can also check it as often as you want to make sure you are on track.
@foodiegrl
@foodiegrl Жыл бұрын
I filled out the online calculator and the Projected amount owed is a negative number. I’m trying to fill out my W4 for a second job that will be part time. When I scroll down, there is no Standard Withholding Amount number under “How to adjust your withholdings...” I’m so confused on what to do…please help!
@TresLeiches
@TresLeiches Жыл бұрын
Besides updating the federal W4 form, do I also need to update my state W4?
@brittanymatthews9352
@brittanymatthews9352 Жыл бұрын
Hello! I file single. I have a FT32 job and just got a part time job in about November of last year. I didn’t know what to choose on my W4 so I left everything about the multiple jobs alone. I’m trying to research, but Im still confused. I did the tax withholding estimator, and it says next year I’ll be getting 2,700 back if I leave everything alone. How accurate is that? Usually I get back 1500 from just my one job. I’d like to keep getting a refund. Is it okay to leave my W4s alone? I’m worried about needing to pay at tax time.
@breeshelton6894
@breeshelton6894 Жыл бұрын
I keep getting 0 as projected amount owed when I do the estimated calculation on the IRS. i’m head of household with 2 dependents and now 3 jobs. it automatically says put 0 on line 3 it projected i will owe . and i owed last year 4k because my 2nd job didn’t take out any taxes. is something wrong that i’m filling out
@TravisSickle
@TravisSickle Жыл бұрын
August 1, 2023
@angelicagalvez-ui3rh
@angelicagalvez-ui3rh Жыл бұрын
PLEASE HELPP!! I am a single not married or kids and i need a step by step walkthrough, I plan on having 3 jobs 2 of them haven’t got paid from them yet and 1 i have started for a couple months. I am located in minnesota
@TheMottasa
@TheMottasa 9 ай бұрын
So what about a part time job that has pay periods but not defined hours ie: sometimes 20 hours worked, sometimes 10, sometimes none? Would I go and take the prior years average?
@TravisSickle
@TravisSickle 9 ай бұрын
It's tricky, you can estimate but also check it. I have videos on how to check it too.
@ericpeterson4398
@ericpeterson4398 Жыл бұрын
The online makes mid-year adjustments which isn't apples to apples with the first two methods.
@TravisSickle
@TravisSickle Жыл бұрын
It should all work out to the same math.
@nah82201
@nah82201 Жыл бұрын
Why would I mark as being married with multiple jobs? It increase tax withholding yes? Assuming the withholding is semi-accurate, this would lead to a refund situation yes? What about where the spouse is self employed and makes estimated payments; should you take multiple jobs or no?
@TravisSickle
@TravisSickle Жыл бұрын
skip that, use the online estimator.
@gerryortiz7276
@gerryortiz7276 9 ай бұрын
Why does the estimator keep saying for me to put 7941 in step 3 if I don’t have any dependents ??
@TravisSickle
@TravisSickle 9 ай бұрын
It's not only for dependents. It's a poorly written form. It should just say tax credits and deductions.
@Bere1311
@Bere1311 Жыл бұрын
I’m trying to do exactly what you are explaining and I love how clear and straightforward you are but I have one thing I’m insure about. I’m about to start my job as a teacher in August. My husband already has his w4 submitted and would rather not mess with his and just put my form in adjusted to not owe taxes at the end. Well I entered all my husbands info and my projected salary, and the online estimator says I’ll be getting a refund. Perfect. But it says online: happy with these results don’t do anything. So I’m confused I can’t do anything because I have to submit my w4. So do I put zeros all the way down? Or fill out with the calculations and the child tax credits or what do I do? I have to submit something.
@TravisSickle
@TravisSickle Жыл бұрын
Did you put the start date as a future date or just put zero withholdings for yourself?
@Bere1311
@Bere1311 Жыл бұрын
@@TravisSickle I put a future date in the online calculator and still says don’t do anything if I’m happy with a projected refund but at this point I’m going to move the desired refund amount to something we like and resubmit both of our w4s. I called the irs but they said no one is qualified to help fill out the form. It’s an IRS form! But after seeing your videos and some comments I think I somewhat understand
@NATIVEDAMUS
@NATIVEDAMUS Жыл бұрын
I have 3 jobs, two of them amount to about 500$ a month. One job is about 30,000$ a year. How do i fill out my w4. Please help lol
@MoKushion
@MoKushion Жыл бұрын
This is my question, too, lol. I just got hired for a 3rd job and never even knew I had to add my other jobs until today. 😩
@NATIVEDAMUS
@NATIVEDAMUS Жыл бұрын
@@MoKushion in lines like 2a 2b 2c, 3 and 4 is where you input your income data from multiple jobs. Match uo the total amounts from the graph the irs gives you on the w4 sheets
@TravisSickle
@TravisSickle Жыл бұрын
no that is wrong.
@TravisSickle
@TravisSickle Жыл бұрын
use this video as a guide.
@pdurkim
@pdurkim Жыл бұрын
I’m starting a new job but still getting severance pay from my previous job until August. How does this work out on my new job’s W4?
@TravisSickle
@TravisSickle Жыл бұрын
enter as previous job in estimator.
@adairebaltzer3561
@adairebaltzer3561 Жыл бұрын
What advice do you have for a job with a base salary plus commission? The IRS calculator says we are overpaying but the past two years we have ended up owing thousands of dollars. I tried accounting for the commission (married filing jointly) in the calculator and it still says we are overpaying. Two jobs, one with commission. Both salary.
@TravisSickle
@TravisSickle Жыл бұрын
July 11, 2023
@ilyaw.3081
@ilyaw.3081 Жыл бұрын
I just got a letter from the IRS that we are not eligible for the 2022 child tax credit. They say we made an error on our Schedule 8812. We filed with Turbo Tax. We both make under 200K and our child is a toddler. I called the IRS and the IRS lady could not understand what was wrong. She said everything was completed correctly. Have you had this happen to you clients?
@TravisSickle
@TravisSickle Жыл бұрын
haven't seen that issue. If they said there was no issues when you called in then respond to the letter. They do make mistakes....often.
@ilyaw.3081
@ilyaw.3081 Жыл бұрын
@@TravisSickle I followed up with the IRS and it was their error. We got the child tax credit. Thank you for the reply.
@sameekshavaity8896
@sameekshavaity8896 Жыл бұрын
I filled the w4 incorrectly for the multiple jobs data and now I owe taxes. Is there a way to correct that ? Amendments?
@TravisSickle
@TravisSickle Жыл бұрын
you can update it moving forward.
@Randomuniverse-qn6cc
@Randomuniverse-qn6cc Жыл бұрын
What if your second job is a gig like uber?
@TravisSickle
@TravisSickle Жыл бұрын
Gig work tax withholdings
@bittahxpupil
@bittahxpupil 8 ай бұрын
I just feel to illiterate to understand this stuff
@CautionHighWavesAhead-
@CautionHighWavesAhead- 4 ай бұрын
@@bittahxpupil That's what the government does to people.
@DiannaFM
@DiannaFM 11 ай бұрын
What I did is Opted to skip the step and not do it.
@TheMrHolmes
@TheMrHolmes Жыл бұрын
this tool looks great but it doesn't work... I won't even let me fill out the first page and i go around in circles
@TravisSickle
@TravisSickle Жыл бұрын
Hmmmm…I just checked it out and it’s fine. I haven’t heard an issue like that before. Maybe try another browser.
@TheMrHolmes
@TheMrHolmes Жыл бұрын
@@TravisSickle alright I’ll give that a go, thanks
@riffsontwowheels
@riffsontwowheels 3 ай бұрын
I do not get it because you are explaining it to yourself and we are dummies which is why we are here
@burningbelow4424
@burningbelow4424 26 күн бұрын
Sorry but this didn't help me at all. My circumstances are different.
@Mojo-pl3oj
@Mojo-pl3oj Жыл бұрын
Seems pointless to even get a second job
@TravisSickle
@TravisSickle Жыл бұрын
Why
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