Como llenar la Forma W4 en Espanol
Published: 2020-01-12
Status:
Available
|
Analyzed
Published: 2020-01-12
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
Individuals who are single with one job, or married with one employed spouse, can skip certain W-4 form sections.
"If you are single and have only one job, then you can go to the next point in this video. If you are married and only one of you is employed, then you can go to the next point in this video."
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Individuals with multiple jobs, or married couples with both spouses working, need to pay attention to specific W-4 form sections.
"If you work for more than one employer or have more than one job at the same time, or if you are married and both you and your spouse work, then you can continue watching this video."
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Married individuals working and earning similar incomes should select option C on the W-4 form.
"If you are married and both of you work and have approximately the same income, then you can proceed to select option C and continue to the next part of the video."
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Individuals with multiple jobs, or married couples with both working, may need to withhold an additional amount of tax beyond the standard W-4 options.
"If you are single and have more than one job, or are married and both If you are employed, you need to withhold an additional amount of tax compared to the standard options on this form, and I'm going to explain why."
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A combined income of $90,000 and $25,000 results in an additional $5,090 to be withheld.
"So, we'll see that the person who earns $90,000 is here, and the person who earns $25,000 is here. They both intersect at 5,090."
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Failure to adjust withholding for combined incomes totaling $115,000 ($90,000 + $25,000) could lead to owing $5,090 at tax time due to insufficient deductions.
"This means that combining both incomes, you should withhold an additional $5,090 on top of what this form shows here, adjusting by default. In other words, if you don't complete this step, you will most likely owe $5,090 when you file your taxes at the end of the year because not enough taxes are being deducted from your paycheck."
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A person earning $20,000-$29,000 with a second job earning $10,000-$15,000 should withhold an additional $1,610.
"For example, this person earns between $20,000 and $29,000. One thousand dollars. If you have an additional job where you earn 10,000 to 15,000 dollars, your additional retainer will be 1,610 dollars."
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When paid twice a month (24 pay periods), an additional $212.08 should be withheld per paycheck based on prior calculations.
"We're going to divide the number we previously calculated in the table by 24, and that gives us a result of $212.08."
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A $2,000 tax reduction is available for each child under 17 years old.
"If you have children under 17 years old, then you'll receive a $2,000 tax reduction. This is the famous alcohol tax reduction. So, enter $2,000 here for each child under 17."
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A $500 tax credit is available for a dependent who lives with the taxpayer.
"If you have someone dependent on you and that person lives with you, for example, let's say your grandmother, you will receive a credit of 500 dollars, so let's enter 500 dollars here."
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Taxpayers can have their payroll system withhold $4,500 less in taxes annually if they have qualifying tax credits.
"This means that your payroll system will withhold four thousand five hundred dollars less in taxes from your paychecks throughout the year because the system is assuming that you will already expect these four thousand five hundred dollars in tax credits."
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Income from sources like interest or investments should be reported to potentially adjust tax withholding.
"If you have income from sources outside your job, such as interest income or investment income, you can write the total here..."
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The standard deduction is approximately $12,000 for single filers and $24,000 for those filing jointly.
"The standard deduction is approximately $12,000 if you are single or approximately $24,000 if you are filing jointly."
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If mortgage interest, property taxes, or charitable donations exceed the standard deduction ($12,000 single, $24,000 married), section 4b of the W-4 can be used.
"More common examples are mortgage interest and property taxes or charitable donations. If you add these items up and they exceed $12,000 if you are single or $24,000. If you're married, you could then consider filling out section 4b."
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For married couples, only the higher-earning spouse should complete steps 2, 3, and 4 of the W-4 to avoid duplicate calculations.
"The last thing I want to mention is that if you're married, only the higher-earning spouse needs to complete steps 2, 3, and 4. Otherwise, you risk counting these sections twice."
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Receiving a large tax refund means more taxes were withheld than necessary, and it's preferable to have that money throughout the year rather than as a lump sum refund.
"Well, if you are receiving a huge refund, that's not a big deal, my son. Well, I'm not going to deny that that's a good surprise, but it's just a good surprise, and that's it. What you are receiving is a big refund, the only thing that means is that you They took more taxes from you than you should have. It's better to have that money in your hands during the year instead of having more taxes taken and then getting a huge refund at the end of the year."
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Deducting too little in taxes can lead to owing money and potential penalties when filing a tax return.
"And also, if you deduct less than you should, you could end up owing money when you file your tax return, and even worse, you could receive a penalty."
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Individuals with multiple jobs or married couples where both spouses work need to adjust their W-4 withholding.
"If you work for more than one employer or have more than one job at the same time, or if you are married and both you and your spouse work, then you can continue watching this video."
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Married couples with similar incomes from both spouses should select option C on the W-4 form.
"If you are married and both of you work and have approximately the same income, then you can proceed to select option C and continue to the next part of the video."
Pending
Individuals with multiple jobs or married couples where both spouses work must withhold additional taxes beyond the standard options on the W-4.
"If you are single and have more than one job, or are married and both If you are employed, you need to withhold an additional amount of tax compared to the standard options on this form, and I'm going to explain why."
Pending
When one spouse earns $90,000 and the other earns $25,000 annually, their combined tax withholding should be an additional $5,090.
"For example, a person who earns $90,000 a year, use this column, and for the person who earns $25,000 a year, we'll use this column. So, we'll see that the person who earns $90,000 is here, and the person who earns $25,000 is here. They both intersect at 5,090."
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Failing to account for the additional $5,090 withholding for a combined income of $115,000 ($90k + $25k) will likely result in owing that amount at tax time.
"This means that combining both incomes, you should withhold an additional $5,090 on top of what this form shows here, adjusting by default. In other words, if you don't complete this step, you will most likely owe $5,090 when you file your taxes at the end of the year because not enough taxes are being deducted from your paycheck."
Pending
A single individual earning $20,000-$29,000 from one job and $10,000-$15,000 from another job should have an additional tax withholding of $1,610.
"If you are single and have two jobs, you can apply the same formula I explained before. For example, this person earns between $20,000 and $29,000. One thousand dollars. If you have an additional job where you earn 10,000 to 15,000 dollars, your additional retainer will be 1,610 dollars."
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For each child under 17, a $2,000 tax reduction is available. Two children under 17 would result in a $4,000 reduction.
"If you have children under 17 years old, then you'll receive a $2,000 tax reduction. This is the famous alcohol tax reduction. So, enter $2,000 here for each child under 17. For example, if you have two children under 17... 17 years old, let's enter two thousand dollars plus two thousand dollars, that is, four thousand dollars here in the next box."
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A $500 tax credit is available for each dependent living with the taxpayer.
"If you have someone dependent on you and that person lives with you, for example, let's say your grandmother, you will receive a credit of 500 dollars, so let's enter 500 dollars here."
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Income from sources like interest or investments, on which taxes are not withheld, should be reported in step 4 to proactively withhold additional taxes and avoid owing money at tax filing.
"If you have income from sources outside your job, such as interest income or investment income, you can write the total here... this additional income will cause you to... If you have a balance or owe money, then this section in step number 4 is a way to withhold additional taxes from your paycheck to compensate for the fact that taxes are not being withheld on your other income, so you don't owe money when you file your taxes at the end of the year."
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If expecting $500 in annual interest income, this amount should be entered in step 4 of the W-4 to ensure proper tax withholding.
"For example, if I expect to receive approximately $500 in interest per year, I will enter this number here."
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If individual deductions exceed the standard deduction ($12,000 single, $24,000 married filing jointly), reporting this in step 4b will result in less tax being withheld.
"If you have certain deductions that are more than these standard deduction amounts, then you could choose to use this section to inform your company's payroll system that you have more deductions than the standard deduction. For example, we would be telling the system to withhold less tax because we expect to pay less."
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Mortgage interest, property taxes, and charitable donations are examples of deductions that, if exceeding the standard amounts ($12k single, $24k married), warrant completing section 4b of the W-4.
"More common examples are mortgage interest and property taxes or charitable donations. If you add these items up and they exceed $12,000 if you are single or $24,000. If you're married, you could then consider filling out section 4b."
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In married households, only the higher-earning spouse should complete steps 2, 3, and 4 of the W-4 to avoid duplicate reporting.
"if you're married, only the higher-earning spouse needs to complete steps 2, 3, and 4. Otherwise, you risk counting these sections twice."
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