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Taxes

January 22nd, 2012 at 07:37 pm

Doing our taxes tonight and I have to say I'm pissed! We got back over $6000 last year so we were clearly overpaying...which prompted us to change our deductions so we would get that money during the year instead of at tax time. We didn't go crazy and claimed what we would claim and it increased out take home by $500 per month which is roughy what the tax return would net us for 12 months. Well now we owe almost $4k and I am super pissed! It really annoys me that we try to do the right thing and it comes back to bite me in the butt! Im no tax genius but is there some kind of magic formula to determine deductions so you aren't owing money?

Hating life right now....

3 Responses to “Taxes”

  1. CCraw Says:

    I don't blame you for being annoyed! I hope you get it straightened out for next year.

  2. creditcardfree Says:

    Sorry to hear that. Be sure to double check it all, make sure you took all of your deductions, ect.

  3. Jerry Says:

    Ouch, that definitely leads to a tough tax day. Sorry to read that. Still, it is better than some circumstances (one year, my mom filled out her tax forms wrong for a new job and paid NO taxes for 11 months... my dad worked a second job for a couple of years to pay the IRS off on that one). I think that there are some online calculators that can give you some insurance of a decent estimation on annual taxes, but I have never done it. Good luck!
    Jerry

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