Hopefully this doesn't violate any rules, but I was hoping someone could explain this Withholding Allowance form to me in layman terms: https://dch.georgia.gov/sites/dch.georgia.gov/files/Employees_Withholding_Allowance_Certificate_G4_1.pdf
I generally get what it's trying to accomplish: the employer will automatically take money from your pay to go to your taxes, so hopefully you will not owe money on tax day. Putting the right information helps hit the mark on how much is withheld from your pay. Some of the fields are confusing to me because I don't understand the terminology. Tax terminology is definitely one of my weak subjects. I tried doing some googling but even the explanations are confusing to me, often sounding lawerish or robotic or just uses more terms I don't understand.
Could someone describe the following, maybe giving a simple scenario on when or why you would use the field, and how you would even know that you need to use it?
Federal Estimated Itemized Deductions
Allowable Deductions to Federal Adjusted Gross Income
Estimate of Taxable Income not Subject to Withholding
The entire section 8 (Exempt)