Calculating Federal Income Tax Withholding

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  • Опубликовано: 21 окт 2024

Комментарии • 44

  • @Akash93621
    @Akash93621 10 месяцев назад +4

    so easy, so quick, thank you so much. I was looking at my chart and I was like..........What? a simple search for this helped and you explained it EASILY! thank you so much!

    • @RexJacobsen
      @RexJacobsen  10 месяцев назад

      You're very welcome, Akash!

  • @pavannandula
    @pavannandula Год назад +4

    This video gave me the answer for my most long awaiting question. It cleared my doubts. Thanks for this video

  • @SusanaBego
    @SusanaBego 8 месяцев назад +1

    Thanks for this video ♥ wondering if you have a new video in how to calculate with the new form W-4

    • @RexJacobsen
      @RexJacobsen  8 месяцев назад

      Hi Susana, unfortunately I don't at this time.

  • @JayBrandonSlade
    @JayBrandonSlade 5 месяцев назад

    Forms 2020+ don't seem to have the allowances. How can I determine allowances for 2020+?

  • @tulayilalim
    @tulayilalim 2 года назад +2

    Very impormative video . Sir do you have a video on how to fill-out a substitute W-4P and how employers calculate it ? Thank you

    • @RexJacobsen
      @RexJacobsen  2 года назад +1

      Unfortunately, I do not, Carlito, but I'm glad this video was informative for you.

    • @tulayilalim
      @tulayilalim 2 года назад +1

      @@RexJacobsen Thank you sir.

  • @tejasamin2470
    @tejasamin2470 4 года назад +3

    I enjoy this video and learn payroll 2020 and it is helpful to me. Can you make payroll videos every year and can you tell me what state are you teaching accounting course?

    • @RexJacobsen
      @RexJacobsen  2 года назад

      Hi Tejas, sorry for the late reply. I teach accounting (online mostly) in WA state at Lake Washington Institute of Technology in Kirkland, WA

  • @dyscea
    @dyscea Год назад

    Would like to get my hands on that larger table 2e.

    • @RexJacobsen
      @RexJacobsen  11 месяцев назад

      The table to use depends on how frequently the employees are paid and if the employee's marital status. Always use the most recent wage bracket tables found in IRS Publication 15-T. This video was just for a classroom demonstration. Here is the current link to 15-T ... www.irs.gov/publications/p15t

  • @Mr.Blue.302
    @Mr.Blue.302 Год назад

    Hello! I've made more money this year than last, although my federal withholding is lower. I haven't changed anything other than filing typical taxes and I'm wondering why it's lower. It is saying I will owe instead of receiving a return. Why?

  • @siri5522
    @siri5522 2 года назад

    Thank you for breaking down the abbreviations

  • @hs4a085
    @hs4a085 Год назад

    You’re not going to do an example of married filing joint?

    • @RexJacobsen
      @RexJacobsen  Год назад

      It's the same process, just using a different table which is found on the IRS website.

  • @toontoonjr.
    @toontoonjr. Год назад

    Where can I find that bracket you are using in the video

    • @RexJacobsen
      @RexJacobsen  Год назад

      The table to use depends on how frequently the employees are paid and if the employee's marital status. Always use the most recent wage bracket tables found in IRS Publication 15-T. This video was just for a classroom demonstration. Here is the current link to 15-T ... www.irs.gov/publications/p15t

  • @joseflores-mejia1725
    @joseflores-mejia1725 3 года назад

    Could I use either wage bracket table? I see one with the tentative amount and the one you demonstrated in your video?

    • @RexJacobsen
      @RexJacobsen  2 года назад

      The table to use depends on how frequently the employees are paid and if the employee's marital status. Always use the most recent wage bracket tables found in IRS Publication 15-T. This video was just for a classroom demonstration. Here is the current link to 15-T ... www.irs.gov/publications/p15t

  • @GS-by3do
    @GS-by3do 11 месяцев назад

    Where can I download this tex table?

    • @RexJacobsen
      @RexJacobsen  11 месяцев назад

      The table to use depends on how frequently the employees are paid and if the employee's marital status. Always use the most recent wage bracket tables found in IRS Publication 15-T. This video was just for a classroom demonstration. Here is the current link to 15-T ... www.irs.gov/publications/p15t

  • @just_here_or_there
    @just_here_or_there Год назад

    Can you do a video on the new w4 forms?

    • @bobryant9923
      @bobryant9923 Год назад +1

      The change in filling out W-4s went into effect for 2020. Most people barely knew to claim 0 or 1, so the government makes it more complex. Most people aren't going to read everything and know to include other jobs or spouse's income to have correct federal taxes withheld.
      I have three part-time employees. All filled out their W-4s different but all got fucked.
      1, married with one Child. She put in $2000 for step 3 on page 1. Nobody really reads beyond page one. SHE DIDN'T ENTER HER HUSBAND'S INCOME. The system thought she would fall in the lowest bracket of owing $0 in taxes and didn't remove any federal tax. Medicare and social security were.
      2, married with 3 Kids. Entered $6000 for step 3 on page 1. SHE DIDN'T ENTER HER HUSBAND'S INCOME. The system thought she would fall in the lowest bracket of owing $0 in taxes and didn't remove any federal tax. Medicare and social security were.
      3, single, no Kids. Put all zeros. SHE DIDN'T ENTER HER $50,000 OTHER JOB. The system thought she would fall in the lowest bracket of owing $0 in taxes and didn't remove any federal tax. Medicare and social security were.
      Consider making a video explaining filling out W-4s thoroughly and correctly. Low income and people with multiple jobs are getting hit by examples like I mentioned. 1 grossed $19,000+ for part-time and no taxes were removed. That's thousands of dollars owed on and due.

    • @just_here_or_there
      @just_here_or_there Год назад

      @@bobryant9923 I was asking because I claim 2 on w4 owe no taxes which are old I thought about going to 0 cause of a raise but still in 12 percent bracket and this new w4 is crazy I'm scared I will mess it up. I do claim head of household at the year end so do I still claim single or head of house hold

    • @bobryant9923
      @bobryant9923 Год назад

      @@just_here_or_there 30:00 mark
      ruclips.net/video/1zpihvLXheM/видео.html

  • @cynthialaroche01
    @cynthialaroche01 Год назад +1

    Thank you!

  • @PankajMishra-wt5wh
    @PankajMishra-wt5wh 3 года назад

    Is this Bracket table applicable for any organization and from where I can download it.

    • @RexJacobsen
      @RexJacobsen  3 года назад +4

      Currently you can find it here: www.irs.gov/publications/p15t
      If the IRS changes that link, search the Internet for "Publication 15-T, Federal Income Tax Withholding Methods."

    • @PankajMishra-wt5wh
      @PankajMishra-wt5wh 3 года назад +1

      Thank you Rex...it's helpful :)

  • @autumnwind1216
    @autumnwind1216 Год назад

    For the algorithm

  • @phish_1
    @phish_1 Год назад

    Can the UD Federal government give tax exempt to the non-immigrants especially the non-immigrant spouses!
    Also remove the SSA and Medicare for the non-immigrants since you don’t care about us!
    Make all non-immigrants tax exempt like Middle East!!!!