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LSUtoOmaha 
LSU Fan
Nashville
Member since Apr 2004
20471 posts
| Is it normal that I owe taxes if I got a raise in the middle of the year? (Posted on 1/23/13 at 7:40 pm)
In April, I got a 15% raise. I'm not sure if that has to do with me owing taxes rather than getting a refund. I am just wondering if in general, employers don't withhold enough for this sort of thing. I only owed $127, but last year I was refunded $1750.
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Tigerpaw123 
USA Fan
P'ville
Member since Mar 2007
7565 posts
| re: Is it normal that I owe taxes if I got a raise in the middle of the year? (Posted on 1/23/13 at 8:01 pm to LSUtoOmaha)
quote:
I am just wondering if in general, employers don't withhold enough for this sort of thing
Your responsibility not there's, could be for a number of things, but actually looks like you did well, remember the goal is to neither owe anything or receive anything when you file your return. Owing $127 is pretty close
This post was edited on 1/23 at 8:06 pm
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foshizzle
LSU Fan
Member since Mar 2008
25118 posts
| re: Is it normal that I owe taxes if I got a raise in the middle of the year? (Posted on 1/23/13 at 8:08 pm to LSUtoOmaha)
quote:
I only owed $127
That's a pretty good outcome, I'd be happy with it.
quote:
last year I was refunded $1750.
That is not a good outcome, you provided an interest-free loan to the IRS.
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LSUtoOmaha
LSU Fan
Nashville
Member since Apr 2004
20471 posts
| re: Is it normal that I owe taxes if I got a raise in the middle of the year? (Posted on 1/23/13 at 8:09 pm to foshizzle)
I know that, but I didn't really do anything differently when I filed. I think it has to do with my company withholding too much last year, and too little this year, although that may be obvious.
Unless I managed to frick up TurboTax 
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LSUSUPERSTAR
LSU Fan
Arlington, TX
Member since Jan 2005
8712 posts
| re: Is it normal that I owe taxes if I got a raise in the middle of the year? (Posted on 1/23/13 at 9:27 pm to LSUtoOmaha)
quote:
company withholding too much last year
That has nothing to do with your company. That is between you and the tax man.
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lynxcat 
Rutgers Fan
Member since Jan 2008
13191 posts
| re: Is it normal that I owe taxes if I got a raise in the middle of the year? (Posted on 1/23/13 at 9:32 pm to LSUSUPERSTAR)
I owe $500. I think my bonus is what threw it off.
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TROLA
LSU Fan
BATON ROUGE
Member since Apr 2004
5212 posts
| re: Is it normal that I owe taxes if I got a raise in the middle of the year? (Posted on 1/23/13 at 10:03 pm to LSUtoOmaha)
174 is pretty damn good..assuming witholdings didn't change and deductions were close, you probably fell right over the border of a new tax bracket. That will sometimes shift around how close the overall witholding table comes to actual.. This is assuming you didn't get hit with a small amount of AMT.
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foshizzle
LSU Fan
Member since Mar 2008
25118 posts
| re: Is it normal that I owe taxes if I got a raise in the middle of the year? (Posted on 1/23/13 at 10:31 pm to LSUSUPERSTAR)
quote:
That has nothing to do with your company. That is between you and the tax man.
This.
You tell the company how much to withhold, they don't make the decisions for you.
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