Tiffany - you would enter the complete $4,500 in that field within GP. What Terry's blog was stating is that tax calculation will use the full dollar amount to reduce the annualized tax calculation, before taking into consideration the pay period (weekly, biweekly, semi monthly, etc.) in order to calculate the net tax for that pay run.
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Doug Karel
Business Systems Consultant - GP
The TM Group, Inc.
Farmington Hills MI
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Original Message:
Sent: Feb 09, 2021 01:05 PM
From: Tiffany Storm
Subject: 2020 Federal W-4 Step 3: Claim Dependents
I am trying to figure out how the claim dependents section should be entered into GP for calculation. Should you enter the full amount from the form from the example below $4,500 or is the amount divided by the number of payrolls and that amount is entered into GP in the example below $4,500/26(payrolls per year) = $173.08 entered into GP. I have read Terry's blog and also watched a video and am confused by the information in both. Terry's blog states that this field is a per payroll field, but the webinar example below shows the entire amount from the form being entered into GP.
Example from the webinar I just viewed:
Example from Terry's blog:
Thanks so much for any help you can provide me!
@Terry Heley
@Charles Allen
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Tiffany Storm
Big Stone Therapies, Inc.
Big Stone City, SD
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