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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="madscotsman" data-source="post: 15250211" data-attributes="member: 141027"><p>Same boat here and it gets frustrating every year. My wife and I have my son, a home, and student loans, and we owe EVERY year. While my neighbors all buy new recreational vehicles or go on extravagant vacations every year with their tax returns. Last year we owed around 4K so I had my job take an additional $100 out of each of my checks in hopes to break even for 2015. We both claim 0 deductions on State and Federal. This year we still owe federal $1000. I usually go to good will a few times a year and drop off any clothes, toys or household item in good shape, that we either have replaced or no longer need, but itemizing those for taxes is a pain in the ass. I would love to break even once without having to enter 100's of separate donated items. When I enter all my income information I see a nice 4-5k fund coming my way, but then enter my wife's income and we end up owing. I make about 2x what she makes and we fall in the 25% tax bracket filling jointly.</p></blockquote><p></p>
[QUOTE="madscotsman, post: 15250211, member: 141027"] Same boat here and it gets frustrating every year. My wife and I have my son, a home, and student loans, and we owe EVERY year. While my neighbors all buy new recreational vehicles or go on extravagant vacations every year with their tax returns. Last year we owed around 4K so I had my job take an additional $100 out of each of my checks in hopes to break even for 2015. We both claim 0 deductions on State and Federal. This year we still owe federal $1000. I usually go to good will a few times a year and drop off any clothes, toys or household item in good shape, that we either have replaced or no longer need, but itemizing those for taxes is a pain in the ass. I would love to break even once without having to enter 100's of separate donated items. When I enter all my income information I see a nice 4-5k fund coming my way, but then enter my wife's income and we end up owing. I make about 2x what she makes and we fall in the 25% tax bracket filling jointly. [/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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