Tax Tips When Filing for Multiple Jobs - TurboTax Tax Tip Video

https://turbotax.intuit.com/tax-tips/... Are you working multiple jobs and wondering how to file your taxes? We got you covered in this edition of Tax Tips by TurboTax.

00:00 Tax tips when filing for multiple jobs
00:12 4 key things to consider
00:15 Consideration 1
00:27 Consideration 2
00:37 Consideration 3
00:54 Consideration 4
01:12 Use TurboTax W4 Calculator to estimate withholding
01:19 The good news

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Video Transcript ~ Tax Tips When Filing for Multiple Jobs:

Working multiple jobs and wondering how to file your taxes? We got you covered in this edition of Tax Tips by TurboTax.

If you have more than one job, there are four key things you should consider.

One:

Don't be surprised if you owe more than you thought. The taxes withheld from each of your paychecks may be based on income from only one job, and doesn't account for additional income sources.

Two:

Having a second job or taking on side gigs may bump you into a higher tax bracket due to increased income. That means you may be taxed at a higher rate.

Three:

The amount withheld from your paychecks is based on the W-4 form you filled out when you start a new job.

Form W-4 includes a section for people with multiple jobs. Make sure to fill that part out so your extra income is considered when calculating your tax rate.

Four:

If your job situation changes, such as going from part-time to full-time, ask your payroll department for a new W-4 form. Or, if you prefer, you can get one from the IRS website, and give it to your payroll administrator yourself.

This will ensure that the correct amount is withheld from your paycheck. You can use TurboTax’s W-4 calculator to figure out how much to withhold.

The good news?

When you use TurboTax, we'll ask you simple questions to guide you through the process of filing for multiple jobs.

Visit https://turbotax.intuit.com/ for more info to help you file your taxes with confidence.
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