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This answer is from What's the best way to determine how many deductions you should have for your state and local W4?

Thomas Fisher, CFP®Napfa_small
Expert Partner
8 months ago

You should find out what the withholding requirements are. Generally, if you withhold as much as you owed the previous year, you're not liable for a penalty.

Once you know how much you need to pay in withheld taxes to avoid a penalty, ask your payroll office to calculate for you how many exemptions are needed to result in withholding the amount that you need.

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