Recent comments in /f/LifeProTips

ItsAllJustMalarkey t1_ja420qz wrote

The W-4 system has changed. The “0, 1, or 2” system is no longer how its done. This changed in either 2019 or 2020.

Download the 2023 W-4 form and read through it. You’re now required to indicate the actual dollar amount you want withheld, and luckily there is a super confusing worksheet you can use.

Its so confusing that most people I onboard just leave it blank and sort things out at the end of the year when they file.

4

weluckyfew OP t1_ja41860 wrote

IIRC changing the withholding to two would actually get less taken out in taxes - it would assume you have a dependent to claim on your taxes.

I just go with a set amount. I think if your income is fairly stable from that job you can just double whatever is being withheld now for federal taxes. But maybe someone who knows better will comment with a more foolproof way to do it.

2

ItsAllJustMalarkey t1_ja413e5 wrote

This is what the worksheet on your W-4 is for.

You should add to your post that you can resubmit a new W-4 to your HR/payroll anytime. You can change your withholding parameters as many times as you want.

And if you change your address, you should resubmit this form with your new address. This is what determines where your w-2 is sent to in January.

5

Basic_Ent t1_ja412oe wrote

You get to be anonymous in public. If you go pro in a popular sport and do well, people will recognize you everywhere you go. A lot of pro athletes grow bitter from having to wall themselves off. Bitter or angry, or prideful. We're just not built to be famous, it breaks us.

Peace at the end of your career without the general public being in your business will matter a lot to you later in life.

7

Fun_Amount3063 t1_ja40mmd wrote

I’ve never been bothered by asking or answering this question. It’s a simple question with a simple answer. And I used to be a writer and producer.

I promise it won’t be so bad if you remove your head from your ass.

1

empteevessel t1_ja3z3ih wrote

This is helpful. My part time job was off the books since I started almost two years ago but now they’re putting everyone on as W2 next month. Should I just change the withholding from 1 to 2 for federal and state? Or is it better to have a specific amount extra taken out per check like you do? I’ve never had a part time job on the books while also working a full time job with normal payroll taxes.

13

satans_toast t1_ja3z34j wrote

Are you good with people? You might want to consider IT project management. It’s not tech-heavy, but it helps to be tech-savvy because of all the terms that get thrown around. Your existing degree might be helpful. There are courses and certificates available. And if you are good at it, and IT prospects fall off, there are other industries that also require project managers. There’s also little need to be on-site for a job like that (unless the company is managed by dilholes that require it).

I’d do some research on it first, though. I’m in IT but am not a PM. Hopefully some will post here and tell me whether my idea is sh*t or not.

4