Adjusting your tax withholding can put an extra $200 or more in your pocket each month. The IRS provides tools for recalculating and updating your W-4 form to match your actual tax situation, allowing for immediate adjustments to your take-home pay.

If you received a large tax refund last year, you essentially loaned the government an interest-free $3,116. Adjusting your withholding can provide an extra $260 per month to use throughout the year.

Workers in tipping occupations can now deduct up to $25,000 of tip income from their taxable income, saving significant amounts on federal taxes. The deduction phases out for higher earners, providing a substantial increase in take-home pay.

Tax credits, like the child tax credit and earned income tax credit, can reduce your tax bill dollar for dollar. Accounting for these credits on your W-4 form increases your take-home pay throughout the year, spreading the benefit across every paycheck.

Major life events, such as marriage, having a baby, or buying a home, can impact your tax situation and optimal withholding. The IRS recommends updating your W-4 annually and after any significant life changes to ensure accurate withholding.

By combining strategies like adjusting withholding, claiming deductions, accounting for credits, and maximizing pretax benefits, you could add $200 or more to your monthly take-home pay. A server earning $45,000, with $20,000 in tips, could see $300 to $400 more per month by following these steps.

Read more at Yahoo Finance: Deductions Most People Miss That Could Boost Your Paycheck by $200 a Month