The Effects of Tax Reform on Bob
2018 Tax Liability Decrease $1,406
If Bob claims 0 on his W4, his 2018 tax REFUND will be $206 LESS than 2017.
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In 2017, Bob’s employer withheld federal taxes of $156 each week, totaling $8,112.
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In 2018, Bob’s employer will withhold federal taxes $125 each week, totaling $6,500.
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Bob will take home an additional $31 per week.
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Bob’s 2017 tax liability is $6,145.
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Because he withheld $8,112, he will receive a refund of $1,967.
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Bob’s 2018 tax liability will be $4,739.
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Because he withheld $6,500, he will receive a refund of $1,761.
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If Bob claims 1 on his W4, his 2018 tax REFUND will be $50 LESS than 2017.
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In 2017, Bob’s employer withheld federal taxes of $136 each week, totaling $7,072.
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In 2018, Bob’s employer will withhold federal taxes $108 each week, totaling $5,616.
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Bob will take home an additional $28 per week.
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Bob’s 2017 tax liability is $6,145.
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Because he withheld $7,072, he will receive a refund of $927.
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Bob’s 2018 tax liability will be $4,739.
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Because he withheld $5,616, he will receive a refund of $877.
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