The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies


Subject:  Calculate effect of W4 withholding change Date:  9/7/2004  5:59 PM
Author:  SethJohnson Number:  73216 of 127297

How do I determine the impact on my take-home pay from changes to my W4? Right now I claim 0 exemptions, which is obviously generating a refund situation come tax time. I want to tweak my withholdings so that I'm not overpaying so much.

I no longer do any consulting on the side, so I don't need extra withholdings to offset untaxed income. I don't have any large investments to generate income, all I have is my salary.

Try as I might, I couldn't find a chart or table or anything on the IRS website that would let me determine how a given W4 change will affect my pay.

Any pointers?

Copyright 1996-2018 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us