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2026-09-12 08:53:46
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No one teaches us this in school 😭  Pero, if you have a job, you might need to do this!  A W-4 is an IRS form you fill out during onboarding that tells your employer how much federal tax to take out of each paycheck. You receive one whether you are a full-time or part-time employee.  AND you only receive it if you’re a W-2 employee, aka a “traditional employee”, not a contractor or a freelancer.  if filled out incorrectly, like US, one of two things happens: - You underpay and end up owing taxes later.  - Or you overpay and give the government an interest-free loan. So how do you fill it out?  There are FOUR main sections, and no, you don't have to fill all of them out, only section one is required, the rest, are only to be filled out if applicable to you.  The part where people usually mess up on are sections 2 and 4  Step 1: Everyone does this - Name, address, Social Security number, and your tax filing status. Basic stuff. Step 2: Only fill this out if you have more than one job or you’re married and your spouse works. This also includes side gigs and self-employment income. But not everyone wants their employer to know they have multiple jobs so you can actually leave this blank and fill out section 4 instead.  Step 4: Optional adjustments This is where you can: - Add extra withholding - Deductions - Account for other income But be careful. Any extra amount you add gets taken out every paycheck. So if you want $50 extra withheld per month and you get paid twice a month… you’d enter $25. Also, pleaseeeeeeeeeeee don’t check the “exempt” box unless you actually qualify. - People love to recommend it, but a lot of people aren’t actually “exempt” from taxes  and the IRS loves to penalize it later.  Step 5 is just signing and dating the form. :)  You should update your W-4 when you get a raise, change jobs, your income changes, or if your filing status changes. Hope this helps 🫶🏽
No one teaches us this in school 😭 Pero, if you have a job, you might need to do this! A W-4 is an IRS form you fill out during onboarding that tells your employer how much federal tax to take out of each paycheck. You receive one whether you are a full-time or part-time employee. AND you only receive it if you’re a W-2 employee, aka a “traditional employee”, not a contractor or a freelancer. if filled out incorrectly, like US, one of two things happens: - You underpay and end up owing taxes later. - Or you overpay and give the government an interest-free loan. So how do you fill it out? There are FOUR main sections, and no, you don't have to fill all of them out, only section one is required, the rest, are only to be filled out if applicable to you. The part where people usually mess up on are sections 2 and 4 Step 1: Everyone does this - Name, address, Social Security number, and your tax filing status. Basic stuff. Step 2: Only fill this out if you have more than one job or you’re married and your spouse works. This also includes side gigs and self-employment income. But not everyone wants their employer to know they have multiple jobs so you can actually leave this blank and fill out section 4 instead. Step 4: Optional adjustments This is where you can: - Add extra withholding - Deductions - Account for other income But be careful. Any extra amount you add gets taken out every paycheck. So if you want $50 extra withheld per month and you get paid twice a month… you’d enter $25. Also, pleaseeeeeeeeeeee don’t check the “exempt” box unless you actually qualify. - People love to recommend it, but a lot of people aren’t actually “exempt” from taxes and the IRS loves to penalize it later. Step 5 is just signing and dating the form. :) You should update your W-4 when you get a raise, change jobs, your income changes, or if your filing status changes. Hope this helps 🫶🏽

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