How to Change Your W4 Tax Withheld Form

Updating your W4 information can keep you from having to pay as much taxes at the end of the year. Maybe you got a return this year and would like to keep more money from every paycheck. Changing your W4 information is simple and can have a dramatic change on your taxes withheld. This is how to change your W4 form information.

Difficulty: Easy

Instructions

1. 
   Tax withheld

   First you will need to speak with someone that works in the PR department at your workplace. If you don't have a PR person, speak to a supervisor about changing your W4 information.

2. The will be able to direct you to the W4 form you filled out when you were first hired. Most people don't know that they can change this information, but it can save you financial hardship in the long, or short run. Once they give you a new form to update, browse through the form and read it thoroughly. The directions are fairly simply, but most people don't take the time to read through them when they are first hired.

3. If you want less taxes withheld from your paycheck, you will need to claim as many dependents as you can. The rule of thumb is, the higher the number, the less taxes withheld. If you want the maximum withheld, then enter 0 on all lines. Depending on whether you select Married or Single will also have an effect on your taxes withheld. If you select Married but with a higher single rate, more taxes will be withheld than if you select Married. Just because you are married doesn't mean you can't select Married with a high single rate. If you are currently claiming 0 and Married with a higher single rate and are still having to pay in at the end of the year, you have to option to have a set amount withdrawn from your check. Having a small amount withheld weekly, biweekly, or monthly is a lot easier financially than paying in $500 at the end of the year. It is a good idea to review your W4 form every year.