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Video instructions and help with filling out and completing irs form w-4v printable
In today's video we're gonna be talking about the w-4 and tax withholdings I'll be teaching you how you can dominate your taxes in 2021 and beyond now this is the first part in a series of videos I'm gonna make around this subject not I've literally spent hours diving into various IRS publications to be able to present the information I'm going to be showing you today I'm gonna talk about a few things right now on the whiteboard then we're gonna look at actual examples on screen to help you understand how your w-4 works and how it affects your tax withholdings versus how much tax you're gonna owe or not owe at the end of the year when it comes to your paycheck so that's what I want to talk to you guys about today now unfortunately this is if if there was one form if there was one area tax I wish our school system would cover this would be it this is such an important life skill I don't know if you guys know this but ninety roughly ninety percent of the people in the US who work make their living as employees and even those who are self-employed a high percentage of them pay themselves wages and have to fill out a w-4 as well and so we're gonna cover this step by step by step so that you can not only see it from the employees side but also from the employer side as well because I really feel that you have to understand how it works from the employer side to understand how your your the tax is being withheld from your paycheck and how they come up with that number of amount of tax being withheld from each and every paycheck you receive and if I lose guys at any point don't worry feel free to leave comments in the comment section down below and I have downloadable materials in the description section right below this video so make sure you take the time and to check it out it's real quick guys what I'm about to show you is not tax advice so please don't take it that way but it is definitely for your entertainment and education and I think you will learn a lot from this but always consult with a professional in your area if you have any questions or uncertainties about your taxes let's dive into this okay when it comes to your paycheck there's really two primary methods when it comes to how much federal income tax and that's what we're talking about here is how much federal income tax is withheld from each and every time you get a paycheck on your payday from your employer now there's two ways that's calculated one method one way that's calculated is the percentage method the second way is the wage bracket method tables now if this doesn't make sense to you it's not supposed to.