W-4 Form Question?

Question

I am wanting to fill out my W-4 form and I want to withhold a specific amount. Not withhold a specific "additional" amount, but an exact amount in total. How do I do this?

Answer 1

Get the withholding tables and find the closest amount to what you want withheld, the closest lower amount.  See what that relates to given your income, Single, Married, whatever and # exemptions and fill out the form accordingly.  You can then have an additional amount withheld to bring you up to what you want.

Answer 2

And you want to play games with your W-4 because???

Answer 3

Basically you can't do what you would like to do.  Your employer is using a chart that will withhold a percentage of your income for a given pay period.  The only way to make that constant is if the income is constant.

Answer 4

There are only two ways that you can have a specific amount withheld that you specify from your paycheck.

First, claim as many exemptions that your employer will allow and requesting the additional amount to be the amount you want withheld.  This should work even if your income differs from week to week.

Second, determine the amount that you want withheld from your paycheck.  Using IRS Publication 15, calculate an amount less than the total that you want withheld based on how often you are paid and your W-4 filing.  Determine the difference and claim that as the extra amount that you want withheld on your W-4.  If your paycheck is different for any reason, this method will not work.

A quick question.  Do you want a specific amount per paycheck or a specific amount throughout the year?  For example, do you want $100 in Fed tax withheld from each paycheck or do you want $5000 in Fed tax withheld for the entire year?

Answer 5

Depending on your income, you can withhold a specific amount each pay.  To do this, mark down MARRIED with 10 allowances on  your W-4.  If you earn $830 or less in a week ($1640 or less if you are paid bi-weekly), your federal withholding will be $0.  Whatever you enter in the "additional" field of the W-4 will be all that is withheld.  If you earn more than $830, the amount withheld will be greater.

So, let's say you want to withhold $5,200 all year and you are paid weekly.  If you earn $830 or less per week, you will pick MARRIED w/10 exemptions on your W-4 along with $100 in the "additional" field.  This will force you to withhold exactly $5,200 all year.

If you earn $1,200 per week, you will have to lower your $100 to $60 because even with MARRIED and 10, your employer will still withhold $40 per week.  The $40 adds to the $60 to make $100.

Good luck and let me know if this will work for you.  Keep in mind that companies ignore what is on your W-4 when you get paid a bonuses / supplemental pay.  They are required to withhold a minimum of 25% for federal income tax regardless.  Also, be careful not to s***w up your state withholding.  Some companies in some states use the federal withholding W-4 to determine state withholding.

Answer 6

Visit IRS website and use the withholding calculator.  

www.irs.gov

keyword: withholding calculator