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W-4 Tax Calculator
Before calculating your W-4 you need to have a good idea of how much your going to owe in taxes this year (or if your going to owe at all). Please get your results from our Tax Estimator before using the W-4 Calculator.

Tax Summary

Download a W-4 Form

Marital Status
Married Single/Head of Household

Gross Wages per pay period:

Retirement plan, Medical & Other pre-tax deductions per pay period

How often do you get paid?

Weekly	Bi-Weekly
Semi-Monthly	Monthly

Withholding Allowances:

Federal Tax already paid/withheld from your wages:

W-4 QUESTIONS AND ANSWERS

What is a Withholding Allowance?

A withholding allowance is used in the formula when figuring the amount of income tax to be withheld from each paycheck you receive. The range of withholding allowances you can choose are from 0 up to a maximum of 10. The more allowances you have, less money will be withheld for taxes. Your withholding allowance can be increased or decreased by completing a Form W-4 that you sign and give to your employer. You have the right to do this at any time.

How do I Decrease my Withholding?

To decrease the amount of money being withheld on your checks, you can increase the number of withholding allowances. The maximum number of withholding allowances is 10. Some payroll programs will not allow more than 9 withholding allowances. But be careful, if you underpay your tax liability you end up owing at the end of the year and be subject to a penalty and interest charges by the IRS.

Can I Claim Exempt from Withholding?

You can claim an exemption from withholding ONLY if:

Your income will be less than $900 and does not include more than $300 of unearned income (for example, interest at a bank), and;
Another person cannot claim you as a dependent on their tax return.

Note: This situation is very rare. The best way to reduce your withholding is to increase the number of withholding allowances.

How Do I Increase My Withholding?

There are two ways to increase the amount of taxes withheld on your check. You can:

Decrease the number of withholding allowances you claim on the Form W-4, or
Enter an additional amount on line 6 of Form W-4 that you want withheld from each paycheck.

Results

Pay periods remaining	0
Previous withholding per pay period	$0.00
New withholding per pay period	$0.00

Estimated yearly tax payments	$0.00
Tax Credit per pay period	$0.00
Tax Credit (Now until 12/31)	$0.00

The Making Work Pay provision of the American Recovery and Reinvestment Act will provide a refundable tax credit of up to $400 for working individuals and up to $800 for married taxpayers filing joint returns.

Because the IRS withholding tables cannot take into account the situations listed above, the reduced withholding may actually lead to you owing more taxes than you expected when it is time to file your taxes. As a result, you may need to increase your federal income tax withholding for one or more of your employers in order to ensure that withholding are not reduced more than $400 ($800 if married filing jointly). Just ask your employer(s) to increase withholding to offset the Making Work Pay Credit.

The Taxbrain Tax Calculator is solely an estimation tool. Any information resulting from its use should be used accordingly. Use of this tool for any other purpose, such as preparation of a federal income tax return, is not authorized. This tax tool is provided "AS IS." There is no warranty of any kind regarding the accuracy or completeness of this tool or your results, and the user assumes all risk of use. Use of this tool constitutes your acceptance of these terms.

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W-4 Withholding Allowance Calculator