Want a Bigger Paycheck? Adjust Your Tax Withholdings — But Only if These 3 Things Are True

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Tax Form W-4 For Employee Withholding Tax Form High.

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Heres what you oughta know.

By reducing the amount your employer withholds, you will increasethe amount you get in your paycheck.

Some of the amounts that are withheld are mandated, like OASDI tax.

Others are optional, but still a good idea, like health insurance premiums and retirement plan contributions.

If you received this refund, you effectivelygave the federal government an interest-free loanuntil you got your refund.

it’s possible for you to safely adjust your withholding so that youll get more money in each check.

The IRS website has atax withholding estimatorthat can help you estimate the correct amount of withholding.

Be sure to check your next few pay stubs to ensure the adjustment was made.

To change the amount of tax your employer withholds,complete a W-4 formand give it to your employer.

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The best way to determine the correct withholding is by using the IRStax withholding estimator.