##Advice
Updating your W-4 after getting married can indeed be confusing, especially with the varying advice available online. Here’s a step-by-step guide to help you fill out your W-4 correctly for filing as Married Filing Jointly:
Step-by-Step Guide to Updating Your W-4
Personal Information:
- Fill out your name, address, Social Security number, and filing status. Since you are married and plan to file jointly, check the box for “Married filing jointly.”
Step 2 – Multiple Jobs or Spouse Works:
- This section is crucial for accurately calculating your withholding. Since both you and your wife earn income, you should complete this section.
- Use the IRS Tax Withholding Estimator (available on the IRS website) to determine how much additional withholding may be necessary based on your combined incomes.
- Alternatively, if you prefer a simpler method, you can check the box indicating that you have multiple jobs or that your spouse works.
Step 3 – Claim Dependents:
- If you have children or other dependents, enter the total amount of credits you can claim here. If not, leave this section blank.
Step 4 – Other Adjustments:
- 4(a): If you want additional withholding to cover any tax liability, you can enter that amount here.
- 4(b): Enter any other income (not from jobs) that you expect to receive this year.
- 4©: If you want extra withholding per paycheck, specify that amount.
Step 5 – Sign and Date:
- Finally, sign and date the form before submitting it to your employer.
Important Considerations
- Leave Blank if Unsure: If the IRS calculator suggests leaving everything blank in Step 2 and it doesn't feel right to you, consider entering your combined income and using the estimator for a more tailored approach.
- Adjust as Necessary: After a few pay periods, review your pay stubs to see if the withholding aligns with your tax situation. You can adjust your W-4 again if needed.
- Consult a Professional: If you're still unsure or if your financial situation is complex, consider consulting a tax professional for personalized advice.
Example Calculation
Given your combined income of approximately $95,000 ($65k + $30k), using the IRS estimator will help ensure that you're withholding enough to cover your tax liability without over-withholding.By following these steps and using available tools, you should be able to update your W-4 correctly and confidently.