John and Lillian Miles intend to file jointly in 2022. The Miles address is 456 Peachtree Court, Atlanta, GA 30310. John expects to earn wages of $40,000 in 2022 and Lillians wages are expected to be very similar at $40,400. They have two dependent children aged 13 and 17. Lillian also has a small business that she expects to generate qualified business income of $6,500 in 2022. She would prefer to increase her withholding rather than make estimated tax payments. They expect to make a $4,000 deductible IRA contribution in 2022 and use the standard deduction. Assuming she is the higher income earner and is paid monthly, prepare a Form W-4 for Lillian Miles including worksheets for steps 2(b) and 4(b), if needed.

Provide the following..

1. Deductions. If you expect to claim deductions other than the standard deduction and want to reduce your withholding, use the Deductions Worksheet.

Using the W-4 in the answer would be extremely helpful!