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Video instructions and help with filling out and completing 2020 w-3 form printable
Hello everyone thank you guys for tuning in to our video today we're going to talk about the 2018 w-4 form is four pages long do you have the form filled out correctly so stay tuned in subscribe to our Channel and share this video with others because we're going to go line by line with the new 2018 w-4 form my name is passion of Mara coin now the importance of the w-4 form now listen at this the IRS state that million taxpayers have this form completed incorrectly which causes overpayment income taxes now by properly completed this form you could potentially realize a two hundred to six hundred increase in your monthly take-home pay now here is our disclaimer we do not guarantee you were receiving increasing your paycheck by adjusting your w-4 results may vary based on each individual financial situation and we want you to see a qualified tax professional if you are unsure about your full on now complete form w-4 so the employer can withhold the correct federal income tax from your pay now consider killing it completing a new form w-4 each year well your personal or your financial situation changes you are responsible for the accuracy of this form your Form w-4 should be updated once per year you should update the form w-4 any time you have life changes I know often we go to the HR person and they just hand us the form do you see you're responsible for in this form line by line so here is the same or two on the actual 2018 w-4 form it says complete your Form w-4 so that your employer can withhold the correct federal income tax from your pay now why is the w-4 is often incorrect exemptions are often confused with allowances now many taxpayers skip over the form w-4 questions and enter the number of people in their household which is their exemption so we're gonna get started with the w-4 form so here we are from the irs.gov website it says form w-4 2018 four pages so let's get started here we're gonna have a situation with a married couple filing jointly income 100,000 with two children ages 8 and 10 again our situation is a married filing jointly couple with two kids income $100,000 so let's get started so on question a we say enter one for yourself question B you to one if you will file as married filing jointly question C here's your one of you will file as head of household the Johnson family is not falling head of household status let's take a look at what of acquirements to file the head of household status so we're gonna go back up here to the top of the form now jerilyn you can claim head of household status on your tax return only if you are unmarried and paying more than 50% of the cost keep it up a home for