SEC 870 S-1 2014 free printable template
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My name is Miranda Chuck, and I'm a CPA, and we're going to talk about the IRS w-4 form for allowances now this form is typically the form you fill out when you first start a job, and you can revise it any time and one of the main differences between this form and other IRS forms is that this one goes directly to your employer and what you're doing is telling the employer how much of the salary you negotiated with your boss that you want them to withhold for you and we mitt to the IRS on your behalf the goal is to have at least 90 percent of the taxes that you're going to owe at the end of the year withheld during the year much less, and you might be subject to penalties and taxes much more, and you're just giving the government an interest-free loan instead of having that money work for you now the form itself is rather straightforward just your name address social security number but one of the lines that the little trickier is line five which talks about the total number of allowances now there is a worksheet for you to help you calculate your personal allowances, so you just go through the decisions, and it's just yes/no, and then they'll tell you how many that you need to you qualify it for and how many to put on your worksheet further if you actually itemize deductions on your tax returns there's another worksheet that will help you go through some yes/no questions to see if there is any adjustment that you might need to make to your w-4 and finally if there are two earners in your family there's another worksheet that you may need to go through and [Music] calculations to see if again you might need any further adjustments to your w-4 and remember you can advise this form at any time
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