Tax Withholding & Refund Planner

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.

WHAT'S INCLUDED (6 sheets):

• 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.

EXAMPLE DATA (2026 — replace with your own numbers):

• Gross wages 75,000 (12 monthly paychecks of 6,250); federal withheld 7,700; state withheld 1,800; net pay 65,500.

• Other income 3,130 (interest 420, dividends 310, freelance 2,400); credits 500; total income 78,130.

• Standard deduction 15,750 (2026 planning estimate); taxable income 62,380; estimated federal tax 8,637.60; tax after credits 8,137.60.

• Refund 0; amount owed 437.60; effective tax rate 10.4 percent; marginal bracket 22 percent.

• Extra withholding per paycheck 72.93 over 6 remaining pay periods; new federal withholding per paycheck 714.60; projected balance after the extra 0.00.

• Scenarios: 0 extra per paycheck leaves 437.60 owed; 50 leaves 137.60 owed; 73 gives a 0.40 refund; 100 gives a 162.40 refund.

HOW IT WORKS:

1. Download the Excel file instantly after purchase.

2. On sheet 1, enter each paycheck's gross pay and federal and state withholding from the pay stub. Net pay fills in by formula.

3. On sheet 2, log interest, dividends, freelance income, and any credits.

4. On sheet 3, read the estimate: total income, taxable income, estimated tax, and refund or amount owed.

5. On sheet 4, set the pay periods remaining and your target refund, then take the extra withholding per paycheck to your W-4.

HOW THE NUMBERS WORK:

Total income is wages plus other income. Taxable income is total income minus the standard deduction. Estimated federal tax uses the 2026 single brackets as planning estimates: 10 percent to 11,925; 12 percent to 48,475; 22 percent above. Tax after credits is estimated tax minus credits. Refund or amount owed is federal withheld minus tax after credits. Extra withholding per paycheck is amount owed plus target refund, divided by pay periods remaining.

WHO IT'S FOR:

Employees who want to check their withholding before tax season, and freelancers with side income their employer never withholds on — anyone who would rather fix a shortfall with a W-4 change than be surprised in April.

PLEASE NOTE:

• This is a digital download. No physical item will be shipped.

• Works in Microsoft Excel and Google Sheets (upload to Google Drive to open in Sheets).

• Example data for 2026 is included (12 paychecks, 3,130 other income, 500 credits). Replace it with your own numbers.

• All tax figures are planning estimates for the 2026 tax year (returns filed in 2027), including the 15,750 standard deduction and the 10, 12, and 22 percent brackets. They are estimates, not your actual tax.

• This is a planning tool only, not tax, legal, or CPA advice.

• Due to the nature of digital downloads, refunds are not available. Message me before buying if you have a question.

Built by an accountant: B.S. Accountancy, ASU W. P. Carey, with revenue-reconciliation experience at Marriott and audit work at PwC. Max is a CPA candidate, not a CPA.