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filing your taxes can be a headache if you arent familiar with the process thankfully all the information you need for your w-2 is located directly on your pay stub this information can give you an idea but proximately how much your tax return will be the pay stubs have created this guide to help you learn how to calculate your w-2 wages taxable income to start to calculate your w-2 wages you want to look at the year-to-date totals on your most recent paycheck for the most accurate results you want to get this information from the last paycheck of the year this will have the total of all the wages that youve earned at that year this amount may need to be adjusted if you have any deductions that are excluded from taxable income these deductions include 401k deductions premiums for health insurance premiums for group of life insurance vision and dental insurance premiums and dependent care reimbursement accounts youll subtract any of these items from your gross taxable wages the numbe