Re: 0 dependents on W-2, still paying high taxes
- From: "Richard Macdonald" <rmacdonald@xxxxxxxxxxx>
- Date: Sun, 26 Feb 2006 09:43:14 GMT
"Mark Bole" <makbo@xxxxxxxxxxx> wrote in message
news:_Y8Mf.16501$2O6.6242@xxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Les Ismore wrote:
Hi:
I am married and have two kids. My wife works as well. We earn average
salaries for people in the IT industry.
Come on, the "IT industry" includes everyone from senior/management
database administrators and security gurus, to people who open the
shipping boxes from Dell and connect the colored cables into the right
hole. Is your joint income from wages closer to $100K, or $200K?
end of the year or we should be expecting a refund. However, when I
entered all the information in TaxCut, it shows that I owe almost
$3000. What's up with that? We have a house and we have entered the
mortgage interest we paid along with the real estate taxes.
Do you have an amount showing for AMT?
Are you withholding at the single (1 exemption per earner), married
(2 exemptions per earner) or married at single rate on your W-4.
If you are both married, working for significant salaries and withholding
at married, with 1 exemption, then the tables calculate about 13,000
in exemptions and deduction apiece and do not calculate the rate steps
as quickly.
.
- References:
- 0 dependents on W-2, still paying high taxes
- From: Les Ismore
- Re: 0 dependents on W-2, still paying high taxes
- From: Mark Bole
- 0 dependents on W-2, still paying high taxes
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