How do I use this calculator?
It's easy. Just enter as much information as you know at this point in time, and the calculator will display your result. You can play with the numbers to see how the results will change. But be careful - implementing changes to your withholding amounts can have unanticipated consequences on your take-home pay. Talk to your tax professional before making major changes.
Payroll Information
Use your latest pay stub to get the following information. When putting withholding changes into effect, your payroll department probably needs at least one pay period - so you might want to estimate ahead one paycheck to get the most accurate calculations.
You
Your Spouse
Gross pay each paycheck
Federal income tax withheld to date
Other payroll deductions
Paychecks are received
Paychecks received weekly Paychecks received bi-weekly Paychecks received twice a month Paychecks received once a month Not applicable
Number of paychecks remaining
Filing Information
Select your filing status:
What will you owe in taxes for 2004?
Estimated tax you have paid or will pay for 2004 (this will not apply to most people - click here if you think it does)
Results
Here are the adjustments we recommend you make to your withholdings in order to make the most of your money during the year.
RecommendedW-4 box 3 status
RecommendedW-4 box 5 amount
RecommendedW-4 box 6 amount
New take-home pay
What does "No Change" mean?
Estimated Tax Result
If you put the recommended adjustments into effect, your result will be as follows: