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Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: ETBen on June 03, 2016, 02:42:37 PM

Title: IRS W4 calculator with old job and new job?
Post by: ETBen on June 03, 2016, 02:42:37 PM

Not sure if I trust the results on the IRS W4 website.  In that I may be doing it wrong.    Or maybe I need to try that excel sheet that I've seen here.

Am I doing this correctly?  I chose the new job, plus the option for an old job on the calculator. 

New job: start date roughly July 1, no wages  or taxes yet, entered my projected wages for the rest of the year. About 80k.

Old job: About 53k wages and 22k bonus.  Entered withheld to date. 

Factor in 401k, Dependent care FSA, taxes and interest itemized. 

I'm getting a really large number of withholdings as a result. 

I'm currently withholding 6 (HOH, 2 dependents) and on track for about the amount of tax I paid last year.  This is now telling me to go up to 10 on the withholding.  (My yearly wage is going up about 40 k). 

Title: Re: IRS W4 calculator with old job and new job?
Post by: ETBen on June 03, 2016, 07:08:20 PM

Oops just found threads on the Taxes board. Nm!