Today, we're going to talk about how to fill out the W-4 when you get a new job. This is a question that we had from a viewer. If you have any questions, be sure to leave them in the comments and I'll answer them in future videos. If this is your first time on our channel or if you haven't subscribed yet, be sure to click on the subscribe button at the bottom. My name is Travis Sickles, a certified financial planner with Sickles Under Financial Advisors. I'm going to put the W-4 form up on the screen in just a minute and walk through the online version with you. I'll also put the link at the bottom so you can follow along. Now, the part that I'm going to point out will make a huge difference if you're changing jobs and it's not January 1st. This will affect how you fill out the W-4. Okay, let's put the form up on the screen and look at it together. At the top, fill out whichever applies to you, whichever tax filing status you apply for. This is what you're going to check off. I'm just going to check off single to make it quick and easy. Can someone else claim you as a dependent on their tax return? No. Let's continue. If you are single and you only have one job, that's probably why you're here. So just make sure at the very top, you leave it as one job. That's one job right there. Then, at this check number one, it should stay the same if you have any child or dependent care credits. So, go ahead and check them off. For child tax credits, I'm going to skip over the second section here and just click on continue. Now, here is...
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W 3ss Form: What You Should Know
Also, a Copy of W-2 must be sent to the employee for each pay period unless that employee is eligible to receive an SSN exemption. For information about Forms W-2 see the following Social Security webpage Information about W-2 If you paid an employee with an electronic money order, there are several advantages over paying the employee in cash. An electronic money order does not have to clear the financial institution. In general, the employee needs to use either a check or a money order and present it to the employee's payroll office at least six days prior to the payment date. If the salary is less than 400 per week, you have five business days to complete the required forms. It is best to pay the employee electronically, so you do not have to stop the payments during processing. A payroll office may make a cash payment if required by the employer because the employee's wages are taxable. If no wage tax is to be paid, a check may be the preferred payment format. If the salary exceeds the maximum amount that can be paid electronically, the employer must file a tax return using Form 8606 (Form W-2) (a Form 8606 can be downloaded from the SSA's Publication 1451: Employer's Tax Guide (PDF). In addition to the W-2, the employer must also file Form 1099-MISC (Form 1099). If money orders are not issued in electronic form, the employer should complete the following instructions (Form W-2, or Form W-3, may provide a copy). For tips on completing forms on the payroll office's computer check out the guide, Preparing Employee Forms — A Step-by-Step Guide. (The IRS will issue Form W-2, 1099-MISC, or 1099, in paper form). Filing a Form W-2 You do not need to file Form W-2 for the same pay period for different pay periods. The wages earned and pay-stipulated in any other pay period will have to be paid to you on that period's Form 1099-MISC. Note, however, that if you have not received payments on the Forms W-2 for your individual pay period, the IRS wants it known that a tax liability for the pay periods covered under these forms has existed prior to this new year.
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