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Video instructions and help with filling out and completing Form W-4ME

Instructions and Help about Form W-4ME

Welcome to tax teach my name is sean i'm a certified public accountant specializing in taxation today i want to teach you guys about form w-4 and the basics behind the form and how to fill out the form itself so form w-4 employees withholding certificate is a form that when you fill it out it determines how much taxes withheld on your paycheck so that's why it's so important for w-4 you fill it out then you give it to your employer then your employer puts that into their payroll system and then the payroll system calculates how much taxes are to be withheld on each of your paychecks so you want to fill out form w4 accurately and that's why today i want to go over how to fill out the form w-4 you should fill out a form to be for whenever you get a new job or when you have a life event life events like let's say you get married or you have kids because this situation these kind of situations affect how much taxes are you're gonna owe throughout the year so without further ado let's go check out formw4 and i'm gonna show you guys how to fill it out here's a 2022 form w-4 in all of its glory in this example i'm just going with a single taxpayer with one job and no dependent so very simple form w-4 um so step one you enter your personal information your name where you live and your social security number then you check single because we're doing a single taxpayer but if you're married you'd collect married filing jointly or head off household if you're ahead of household but for now we're going to go with single and then you go down to step two if you have multiple jobs or a spouse that works you wouldn't fill out step two but in our example we're just a single taxpayer with one job so we get we can skip the step two let me know down in the comments if you guys want me to do a forum w-4 or you have multiple jobs or a spouse that works maybe i can make one of those videos in the future but for now let's let's go to step three because three claim dependence so this section applies if you're making under 200 000 or over or under 400 000 if you're married um then basically if you have any children under seventeen you wanna multiply that by two thousand enter a number here and the reason why it's two thousand is because that's the child child tax credit and the form w-4 is trying to make sure that you withhold a proper amount of taxes throughout the year and if you have dependents and getting that child tax credit or dependent uh tax credit then the former b4 wants to take that into consideration when withholding your taxes so if ...

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