W-4

[vivfran 59]

Hello!

 

I got my green card through marriage last November and i just got a job! Should I be filling out my W-4 as married filing jointly or separate? Also, am I getting a higher tax withhold because I am married? Help!

[WandY 430]

Consult a tax expert, not an immigration blog. Spend the money and hire a CPA. He/she will save you money and headaches.

[arken 4,197]

You can put anything on w-4  depending on whether you want to have your withholding in larger or smaller amount. Tax return next time will take care of it accordingly.

[vivfran 59]

1 minute ago, arken said:

You can put anything on w-4  depending on whether you want to have your withholding in larger or smaller amount. Tax return next time will take care of it accordingly.

If I want my withholdings smaller, would I file separate? 

[JFH 12,189]

It’s a personal choice whether you want to overpay or risk underpaying your taxes on each check. No one can advise on that.

 

 

[JFH 12,189]

4 minutes ago, vivfran said:

If I want my withholdings smaller, would I file separate? 

Edited...

 

You are referring to the top section of the W-4. Again, that’s personal choice. Seek advice from a CPA to explain how it affects your circumstances. 

 

The W-4 is for the employer to set the deductions. You must put that you are married if you are. But as to how many allowance you claim at this stage is your choice.  

Edited April 28, 2020 by JFH

[arken 4,197]

1 minute ago, vivfran said:

If I want my withholdings smaller, would I file separate? 

You are not filing anything. Checking married will have smaller withholding, checking Single or married but withhold at single rate will have larger withholding. Either you will end up paying IRS, get smaller refund or get a huge refund when you do the tax return in 2021. 

[arken 4,197]

7 minutes ago, WandY said:

Consult a tax expert, not an immigration blog. Spend the money and hire a CPA. He/she will save you money and headaches.

Spending money on CPA for W-4 is equivalent to spending money on SAT instructor to teach ABC for a 2 year old.

[vivfran 59]

1 minute ago, arken said:

You are not filing anything. Checking married will have smaller withholding, checking Single or married but withhold at single rate will have larger withholding. Either you will end up paying IRS, get smaller refund or get a huge refund when you do the tax return in 2021. 

Okay so lets say I put on my W-4 married filing jointly. But my tax withholdings are soooo high its not even normal. What should I do to decrease it? 

[arken 4,197]

3 minutes ago, vivfran said:

Okay so lets say I put on my W-4 married filing jointly. But my tax withholdings are soooo high its not even normal. What should I do to decrease it? 

Forget about your past tax withholdings, for this new job, if you select Married filing jointly option, your future tax withholdings will not be higher than selecting Single or Married filing separately.

[vivfran 59]

2 minutes ago, arken said:

Forget about your past tax withholdings, for this new job, if you select Married filing jointly option, your future tax withholdings will not be higher than selecting Single or Married filing separately.

I understand! My question is, how can I decrease the withholdings? They are higher than the percentage in my state. 

[arken 4,197]

10 minutes ago, vivfran said:

I understand! My question is, how can I decrease the withholdings? They are higher than the percentage in my state. 

It’s not up to you to do that, you just select the options that are applicable to you in w4 and your tax will be withheld accordingly.

[Crazy Cat 39,261]

51 minutes ago, vivfran said:

I understand! My question is, how can I decrease the withholdings? They are higher than the percentage in my state. 

more exemptions equals less amount deducted.......However, there are tax penalties for not withholding enough during the year.

[Wuozopo 4,285]

2 hours ago, arken said:

Spending money on CPA for W-4 is equivalent to spending money on SAT instructor to teach ABC for a 2 year old.

Agree 1000%

 

Waste of time and money. 

[Wuozopo 4,285]

2 hours ago, vivfran said:

I understand! My question is, how can I decrease the withholdings? They are higher than the percentage in my state. 

The new W4 is designed to figure out your situation better than previous versions. The IRS suggests that the spouse making the most money should fill out a new W4 as well and do those part 2 calculations based on the higher wage.  That’s probably better than trying to manipulate yours. 
 

Try their FAQs for more info. https://www.irs.gov/newsroom/faqs-on-the-2020-form-w-4