Withholding Allowance An allowance an individual claims on a W-4 Form. Your withholding allowances will determine how much money is taken out of your paycheck each time you get paid, so know how to use them to your benefit.A withholding allowance is mainly used to assist an employer in calculating the amount of income tax to withhold from an employee's paycheck. The more … [Read more...]
What is W-4 Form?
W-4 Form A form completed by an employee he W-4 Form is completed by an employee so the employer can withhold the correct amount of federal income tax from your pay. When you are hired for a new job, you will be required to complete a W4 Form to let your employer know how much tax to withhold.The W-4 form tells the employer the correct amount of tax to withhold from an … [Read more...]