How do I figure out my withholdings?

[boiler717]

Our withholdings are a mess. Our taxes themselves are easy (just W2 jobs) but I am having trouble finding a CPA to consult on the withholdings alone. I am also trying to figure out which W4 path to do for my new job.
We are getting a large fed refund that I would like to stop but having to pay $1k quarterly in estimated state tax because my soon to be former employer only withholds state taxes, not local. I’m assuming the new employer will follow the law and withhold appropriately.
For 2023 we have the following changes:
- DH has a big promotion with ~10% raise
- I am switching jobs 2/16, new job is a 20% increase in base pay (45% with bonus but that that won’t hit until 3/2024).
- I will have ~$30k in PTO payout from the old job
- No bonus for 2023 (current job paid out 12/2022)
- DH’s base salary is around 60% of my base salary, but with the PTO payout is probably going be around 50% (this was mentioned as something to consider when picking a W4 calculator)

Do I put the 3 paychecks from my current job + PTO as a third job in the W4 calculator for now and just make sure we withhold enough that at least covers our 2022 liability? Any tips of finding a CPA to consult on this? I don’t mind paying for it but they all seem return focused.

[Deleted]

It would be easier to fill out your w4 as simply as possible. put a reminder in your phone to check on this in a few months to see your income vs withholdings and then calculate to see if you are withholding enough. Once you know, you can estimate for the rest of the year and if you need to adjust your withholdings then submit an amended w4.

[niq]

Feb 3, 2023 12:24:15 GMT -5 @lemonlover said:

It would be easier to fill out your w4 as simply as possible. put a reminder in your phone to check on this in a few months to see your income vs withholdings and then calculate to see if you are withholding enough. Once you know, you can estimate for the rest of the year and if you need to adjust your withholdings then submit an amended w4.

This, plus in September go through the IRS withholding calculator, just in case things have changed or your calculations at the start of the year were off