Tax Withholding and Refund Planner Excel for anyone who wants to know, before April, whether their paycheck withholding covers their tax bill — with a paycheck log, other income and credits, a tax estimate, and a W-4…
About this template
Tax Withholding and Refund Planner Excel for anyone who wants to know, before April, whether their paycheck withholding covers their tax bill — with a paycheck log, other income and credits, a tax estimate, and a W-4 adjustment planner in one workbook. Built for employees and freelancers who want to see the whole picture: what was withheld, what else was earned, what the estimated tax is, and exactly how much extra to withhold per paycheck to fix a shortfall — without accounting software.
$24
Excel & Google Sheets template — instant download on Etsy
Paycheck and Withholding Log — month, pay date, gross pay, federal withheld, state withheld, and net pay for every paycheck. Net pay fills in by formula.
Other Income and Credits Log — interest, dividends, freelance income, and credits, with a total for each section. Both totals feed the Tax Estimate.
Tax Estimate — total income, standard deduction, taxable income, estimated federal tax by bracket, credits, tax after credits, and refund or amount owed. All formulas.
W-4 Adjustment Planner — extra withholding per paycheck to hit a zero balance or a target refund, plus scenarios at 0, 50, 73, and 100 extra per paycheck. Use the result on a new W-4, Step 4c, extra withholding.
Dashboard — wages, withholding, other income, taxable income, estimated tax, refund or amount owed, extra withholding needed, effective and marginal rates, withholding by month, other income, and W-4 scenarios.
Cover and How to Use — start here. Yellow cells are the only ones you edit.
Try the headline numbers for a typical month. The full template does this job by job with a monthly P&L and dashboard.
Frequently asked questions
What does the Tax Withholding & Refund Planner track?
The Tax Withholding & Refund Planner tracks Paycheck and Withholding Log; Other Income and Credits Log; Tax Estimate; W-4 Adjustment Planner; Dashboard.
What do the example numbers show?
The included example shows: Gross wages 75,000 (12 monthly paychecks of 6,250); federal withheld 7,700; state withheld 1,800; net pay 65,500.
Does it work in Excel and Google Sheets?
Yes. The workbook works in Microsoft Excel and in Google Sheets (upload the .xlsx file to Google Drive to open it in Sheets). It is an instant digital download from Etsy — no physical item is shipped.