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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?

Thanks,
Seth
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Nevermind... answered my own question.

http://www.irs.gov/pub/irs-pdf/p15t.pdf

Guess I didn't notice there was an additional page of results when I searched the board before posting :)

Seth
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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.


If your payroll people can't tell you the numbers, there are tables in IRS Publication 15. A single person working only one job with no other significant income should claim two withholding allowances. See the W-4.

Phil
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