What is a W-4 Tax Form?

Video Transcript

Hi, my name is Tom and in this series I'm going to talk about form W-4. I'm going to use this as a example a married couple and the husband James Smith gets a job first. He completes the W-4 according to this personal worksheet. Next we are going to talk about James' wife Mary who gets her job second and completes this personal worksheet. Because they are a married couple with the 2 earners multiple job worksheet on page 2 we would go through that. We would show you how in their example they both completed their W-4s and what the implications were for them. In our example James is first to get a job so when James goes to the personal allowance worksheet when he completes it he has made a deduction for himself, his 2 children and the child tax credit that applies to them. He has not made any allowance for his wife because he knows that she plans to get a job and she would claim herself in the W-4. In this case since the children are already claimed Mary is not claiming anything for her spouse or her children so she comes up with just one personal allowance for herself.

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