<prompt> Human: Ill admit it, I suck at understanding investments and finances outside of normal household accounting. We just filed our 2015 taxes and were getting a small return but our 2016 looks dismal. My two oldest children are gone, along with their college education benefits. My 16 yo turns 17 this year still in high school. I just ran the IRS W4 calculator and its telling me that we have to pay an additional 710month to the IRS for 2016 pre-taxes. Here are the specifics:3 jobsJob 1 88k year, paid every two weeks, YTD Fed tax 2154, most recent Fed tax 385.Job 2 52k year, paid every two weeks, YTD Fed tax 1477, most recent Fed tax 200.Job 3 22k year, paid monthly military retirement, YTD fed tax 385, most recent Fed tax, 115.1 dependent0 child tax creditsExpecting 20,000 in mortgage and RV interest paymentsExpecting 4,000 in tax paymentsThe W4 calculator is saying we should be paying an additional 710 a month to taxes. If we simply increase our 401k contributions by that amount 710, will that even out the equation? If not, what are other options?  <response>: If we simply increase our 401k contributions by that amount 710, will that even out the equation?No. That will deduct 71012 from your taxable income. Its a deduction, not a credit. The government isnt giving you money to save for retirement, they just arent taxing you on that money. 