How to fill out a W4 for beginners

Описание: Do you know how to fill out a W4❓

Filling this form out correctly is important because:

▪️ Correct Tax Withholding: Filling out the W-4 accurately ensures that the correct amount of federal income tax is withheld from your paycheck

▪️ Overestimating or underestimating your allowances can lead to either owing taxes at the end of the year or receiving a smaller refund than expected

▪️ Avoid Penalties: If you don't have enough tax withheld throughout the year, you may face penalties for underpayment when you file your taxes

▪️ Financial Planning: Properly completing the W-4 allows you to better plan your finances

▪️ Employee Benefits: Some employer benefits, such as health insurance premiums, retirement contributions, and flexible spending accounts, may affect by your tax withholding

Parents, this is a GREAT post to send to your kids when they start their first job, so make sure to SAVE it!
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