Thursday, April 7, 2016

Simple way to fill out a W4

I've hired 100s of people over the last 10-15 years.  For most folks, it's their first job.  They go cross eyed when they have to fill out a W4.  It is way more complicated than it has to be.  This post mirrors my blog post about how to fill out the NC4 EZ.

So, if it's your first job or you have simple taxes/finances the image below will tell you exactly how to fill it out correctly.

A few bullet points of interest:

  • I am no where remotely close to a tax or finance advisor.  My online research helped me develop this solution.  I've just seen lots of confused people.
  • This is only meant for extremely simple taxes and finances.  Perfect if you are a teenager or single with no children.  (Although, I am married with 3 kids and still am at a 1.)
  • You can replace the 1's with 0's if you would like a larger refund when you file your taxes.
  • IF you use 0's instead, you will pay MORE tax throughout the year -- hence the larger refund.
  • Using 0's means Uncle Sam will be sitting on YOUR money all year when you could have had it all along. 
  • If you are working in North Carolina, this is how to fill out the NC4 EZ.
  • DO NOT ADD ADDITIONAL TAX.  Unless you anticipate on winning the lottery.  :)
  • Make sure to fill out the rest of the stuff --- like your name, address, SS#, and for the love of God, please sign and date it.
  • If I have made a gross error here, please let me know in the comments so that I can update my post.

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