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Video instructions and help with filling out and completing form w-4p 2020
What's going on guys it's your man Jake a full cash flow King right quick what I want to do is I want to show you our video of how to correctly fill out your form w-4 now this video is very important because you need to be able to fill this form out correctly so that the IRS and your employer can make sure that your paychecks are being handled correctly so we're gonna go ahead and get right into it and go ahead start on your form so let's get started what we have here is a form w-4 2019 you can get this form from the IRS website at irs.gov or you can go to your employer I got this form from the IRS website the thing is each form no matter what you're getting from is gonna be the same this federally mandated body IRS it this needs to be these that form that you fill out when you're getting hired by your employer now when you're filling out this form the biggest thing to keep note is you're just reading the instructions and that's very very important what we're gonna do is we're gonna read this right quick first so you want to read the purpose you're gonna learn why and how what's going on with this form so the purpose says complete w-4 form w-4 so that your employer can withhold the correct federal income tax from your pay consider completing a new form w-4 each year and when you're a parent where personal or financial situation changes which basically means that if your financial or personal situation changes in any formal fashion you need to complete this form if you get a new job of course you're gonna do it but if you get if you have a new child if you get married we get divorced child passes away child gets too old if you make a whole lot more money these are life situations where you need to go back and visit this form and to get make sure it's filled out correctly now the one other thing I'll point out right quick is I have a few other things over here did I mark by but we're gonna come back to those after I complete the form and I'm going to show you exactly why so let's go ahead and get started and let's go ahead to the personal allowances worksheet we're gonna start with a letter a enter one for yourself so what we're gonna do is we're gonna we're gonna use an example of a single female she has two kids what 10 and 12 and she means $15,000 a year so she's gonna claim herself first that's always important even if you're single you still claim yourself now B in turn 1 if you're if you will file as married filing jointly now she's single and she's not married so for this one we would put