What do the questions in the Federal W-4 mean

Edited

While we can't offer tax advice, here's what you'll need to consider:

  1. Exemption from withholding: Usually "No" unless you expect no tax liability.

  2. Filing status: Affects your deduction and tax rates.

  3. Multiple jobs: "Yes" if you have two jobs or if married filing jointly with working spouse.

  4. Dependents:

    • $2,000 per qualifying child under 17

    • $500 for other dependents

  5. Other income: Interest, dividends, retirement income, etc.

  6. Expected deductions: Use Deductions Worksheet if claiming beyond standard deduction.

  7. Additional withholding: Enter amount for extra tax withheld each period.

For more details, see IRS FAQs for Federal W-4.

Remember: When in doubt, consult a tax professional.