Tax Tips

Know how to make the most of your salary, benefits and tax deductions at your new job.

W-4 Withholding

The number of withholding allowances you enter on your W-4 will determine the amount of your tax refund or how much you'll owe the government every year. If you don't have experience completing a W-4, check out our Withholding Calculator. This interactive tool will help you determine the appropriate withholding amount. Still have questions? Find an H&R Block tax professional near you.

Working 2 jobs?

People who work 2 jobs usually don't have enough tax withheld from their part-time earnings and may wind up owing a large sum of money at tax time. You should increase the amount of money withheld from your primary paycheck. Check with your tax professional for definitive advice. Ask your employer for a new W-4 form, or you can download and print one from our federal forms download page.

Retirement Savings

You should start contributing as much as possible to your 401(k) or other retirement plan your company offers. Many companies will match your contributions with a certain amount (e.g., for every dollar you contribute, your company may contribute 50 cents). Retirement contributions are taken out of your paycheck so you'll never miss the money.

Other Fringe Benefits

Take advantage of other pre-tax benefits your employer provides. One common benefit is a Section 125 plan, sometimes referred to as a flexible spending account or cafeteria plan. A flexible spending account or health savings account allows you to pay for medical expenses and child care expenses using pre-tax dollars. Using these plans may result in significant tax savings. Contact an H&R Block tax professional to help you determine whether participating in such a plan will be beneficial to you.