if you have 2 jobs , is it better to write it down on the W-4 Tax form ?

Question

does that mean , the govt will give me more money ?

the reason why i am asking this question is because I just started a job and the owner wants me to come in whenveer i can u know to "learn " stuff etc etc..


Now i got this other job also on the side starting this wednesday ( part time 20 horus / week )

I dont know if i should write it on my tax return form ( w-4) for the Full time job or should I just leave that part , cuz i dn't want my Employer ( at the full time job ) to think i am not committed or anything


what do you think ?
can i save any money if i include information under the "Multiple jobs" section in W4 form?

Answer 1

Unless you tell them, your employer will not learn of your part time job as a result of completing a W-4. Further, as an employee, you must complete a W 4 so that your employer can pay you. The W 4 tells your employer how much to take out of your takes. Yes, note multiple jobs.

Answer 2

If you under withhold, you will owe a penalty. I would suggest to stay at a 1 and enjoy the lump sum check at the end of the year. Its not like any savings account will pay enough interest right now to offset you getting an extra 30-40 bucks a month. A 0 on your W-4 will get your the lowest amount withheld, but you have to be very careful about the penalties that could be charged with you file your return if you don't pay enough in. The form that you fill out that derives the 1 above the W-4 is in use for a reason, so you have the correct amount withheld. Most single people won't have a large refund anyhow, unless you can itemize which usually includes owning a home for most people. www.irs.gov will have anything you need when it comes to IRS forms.

Answer 3

Does the government give you more money? Uh, the government refund that you get is only if you overpay your taxes - it's like if you buy $12 worth of items at WalMart and give them a $20 bill, you get $8 back but it isn't like WalMart gave you $8, it's just a return of your overpayment.

If you have a second job, it will end up taxed at a higher effective rate than your first job since it'll be taxed from the first dollar - you won't get another exemption and standard deduction. The tax rate will start wherever your first job left off.

Put zero allowances on the W-4 for your second job. You don't "save money" by including the two jobs in the "multiple jobs" section. You either pay through the year with withholding from your paychecks, or pay at the end - you'll owe the same total tax either way.

Answer 4

The only page that matters in your W-4 is the first page (where you write single/married/married withholding at higher rate), the number of exemptions and your signature.

The rest is crap and shouldn't be given to the employer anyway.

All the W-4 does is to tell your boss how much, or how little to withhold.

If working two jobs you can end up in a higher tax bracket at year end. So it is a good idea to have more withheld.

Single = highest withholding
Married = less withholding (because less taxes)
Every exemption (number you claim) reduces the amount of tax withheld.

For most American singles that make decent money, you will want to claim Single & zero.

Hope that helps

Answer 5

your full-time job probably already had you fill out a W4
and so will your part-time job. It isn't going to save you
any money by combining on one form because each employer has is own EIN # Just make sure you claim
0 dependents on both, (unless you are married with kids) so you don't end up owing at the end of the year !!!!