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Video instructions and help with filling out and completing Form VA-4

Instructions and Help about Form VA-4

Welcome back to our Channel clear value tax my name is Brian Kim I'm a certified public accountant and in today's video we're gonna walk you through the w-4 form 2022 this is the most updated and newest version this is completely different than the w-4 form 2022 so this is brand new so let's walk through this line by line on the form but let me preface very quickly by just saying that this form the w-4 this is what determines how much taxes to withhold from each and every one of your paychecks so you do not want to be under withholding your taxes because if you do then you're gonna find out that you have a tax balance to do when you do your tax return and you also might be subject to penalties and on the flip side you do not want to be wildly over paying your taxes you don't want to be paying too much taxes because if you do yes you'll get that refunded back to you if you if you withhold more than you should have you'll get that refunded back to you when you do your tax return that's where your refund comes from however that's like giving an interest-free loan to the government so rather than you just over paying your taxes and waiting for you to recoup that by doing your tax return it's better for you to have that money in your hands in your pockets during the course of the year so you do not want to set the w-4 to under withhold you do not want to set it to over withhold you want to try to get just rights so that's what we're here to do so let's walk through this form line by line welcome to the w-4 form 2022. so let's see how quickly we can fill out this form let's walk right through this so the first one is asking for your first name in this example will be John last let me go Social Security number and of course that be your address okay so let's choose what you are so if you're single or married filing separately then you'll click this box if you're married filing jointly and then you'll click this box if you're head of household you click on this box so their definition of head of household is that I'm married and pay more than half the costs of keeping up a home for yourself and a qualifying individual a qualifying individual for example would be a child so if that's applicable to you then check this box off these are different tax rates that they're going to be withholding taxes for your paycheck set so pick the one that's most applicable to you okay so let's let's move on to section 2 this is applicable to people who are married filing jointly and both spouses are working this is also applicable to people ...

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