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SVTPerformance's Chain of Restaurants
Road Side Pub
Claim 0 on W-4. Still owe taxes. WTF?
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<blockquote data-quote="CO Mack" data-source="post: 15250162" data-attributes="member: 161833"><p>Your combined income is putting you in a bracket higher than either of you would hit singly, it sounds like. I wouldn't do anything if it's only $1500 myself, but you can do quarterlies if you're worried about it.</p><p></p><p>If your combined income gets up into the $200's AMT and Obamacare taxes rear their ugly heads which are not captured in the IRS withholding tables, and those can get very nasty quick, so be careful if you are. That's also where you lose deductions for things like kids and childcare that you'd get otherwise.</p><p></p><p>You know, those rich people tax breaks. :dancenana:</p></blockquote><p></p>
[QUOTE="CO Mack, post: 15250162, member: 161833"] Your combined income is putting you in a bracket higher than either of you would hit singly, it sounds like. I wouldn't do anything if it's only $1500 myself, but you can do quarterlies if you're worried about it. If your combined income gets up into the $200's AMT and Obamacare taxes rear their ugly heads which are not captured in the IRS withholding tables, and those can get very nasty quick, so be careful if you are. That's also where you lose deductions for things like kids and childcare that you'd get otherwise. You know, those rich people tax breaks. :dancenana: [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Claim 0 on W-4. Still owe taxes. WTF?
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