While in school I worked a part time job from January to Current (October) and two weeks ago I recently started a full-time job. The kicker is that I am currently helping out part-time on the side for the previous employer as they needed my help.

I do not want to owe money at the end of the year and want to receive a positive tax return. I have filled out 1 on my full-time job and at my part time job my W4 allowance is 0.

What must I do if anything to make sure I avoid paying taxes at the end of the year? Does it matter that I will probably on make another $7k for the part time job through end of year?

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    So, you want to make an interest-free loan to the Federal government? <g> – Pete Becker Oct 12 '15 at 17:55

This answer applies only if you are in the US; however, the methodology is probably the same for most countries.

Step 1: Predict the amount of tax you will owe. The IRS withholding calculator or Form 1040ES

Step 2: Estimate how much you have paid in, and how much more you will probably pay in taxes.

Step 3: Compare and adjust. If step #2 is more than #1, then you will get a refund. If step #1 is more you should probably adjust your withholding. Keep in mind, you never want step 1 to be $1000 more than step 2 as there are penalties, although slight, associated for owning that much at the end of the year.

You can adjust your withholding by filling out a new W-4 form.

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