All right, welcome everyone! My name is Jarrett Watkins and I'm here to do a presentation video on one of the many benefits of My Econ, which is the W-4 form strategy. The first thing I believe everyone should do when they join My Econ is to put more money back into their pockets, and that starts with understanding the W-4 form. For those of you who don't know, the W-4 form is the form you fill out when applying for a job. It ensures that your Social Security, federal taxes, and Medicaid are correctly deducted from your paycheck. Now, let's dive right into it. I'm going to share my screen, so give me a second. Here, we have the W-4 form. I'm sure most of you who have worked a job have seen this form before. It's a standard tax form that you need to fill out when applying for a job. The form contains personal questions, such as your name, social security number, marital status, and other personal details. We won't go into all the details, but these are the questions you'll encounter when filling out the W-4 form. What makes this form interesting is how you fill it out. Depending on your responses, the federal government will determine how much tax should be withheld from your paycheck. One important section is number five, where you indicate the total number of allowances you are claiming. This is filled out on the third page of the form, so leave it blank for now. Interestingly, many people only complete the first page when filling out their W-4 form. They rarely make it to the following pages. However, I want to show you the importance of the third page.
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2019 w-4 Form: What You Should Know
Income is shown on the W-4 for one of your two employers or employers. For example, you might have a joint salary from both employers, and each employee gets the tax rate separately. You should look at the 2024 Form W-4 at the IRS and see if the employee got the full rate for their salary for each employer. If so, you do not have to calculate a third number. If not, you should figure out the highest rate for your spouse. This may be the same income you reported on your separate 2024 income tax return (if you filed one). The difference between the 2024 W-4 figure and the 3-tier withholding is the amount on Form W-4 for the other employer. What is the “Tithing Payment”? You should figure out what amount of your paycheck will go to “Tithing.” The “tithing amount” is usually a set amount each month. It's set by law. A person can legally use his/her church allowance, or maybe pay an extra dollar if they are having a party. We don't have any set rules on what you can and can't pay tithing to. What Do I Need to Bring to an IRS office to complete my W-4? The following is a breakdown of the information you'll need to complete the form and have it mailed off. Remember the information listed below is for your 2024 income tax return. If you have 2024 Income Tax Returns you can check here for updates on the 2024 Form W-4. You may also want to have more info as this information may already be in your files. (All dates are in 2017. If you have 2024 income tax returns, visit the IRS website for more information. Note, you can update the information listed below before the March 2024 filing deadline.) Form W-4 Complete and print on 4½ by 11 inches card stock. The bottom will be blank. Form W-4 A. Date: 2024 Form W-4 2024 Form W-4 Q. What Are the Important Dates for the “New Rules”? Q. What Forms Are Form W-4 Forms required? Form W-4: 2024 IRS W-4 For 2018, only the following forms are required: Employer's Shared Responsibility Payroll Deduction (W-4) Q.
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Video instructions and help with filling out and completing 2024 w-4 form
