The W-4 is the form you fill out when you start a new job to determine how much federal income tax will be withheld from your paycheck. While the default W-4 settings will work for many people, you may be able to customize your W-4 to get more money on each paycheck, but you should be careful about doing so.

Consider your expected income, tax credits, deductions, and personal exemptions for the year. Are there any major changes from last year? Also, gather any related tax documents to inform your W-4 changes.

The IRS offers an online calculator you can use to estimate the appropriate tax withholding for your situation. Fill in the relevant information and it will suggest the number of exemptions you can claim.

If you have qualifying dependents, make sure to claim exemptions for them on your W-4. Each exemption reduces your taxable income.