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Message
re: First time ever I owe taxes
Posted on 3/25/24 at 6:17 am to FLObserver
Posted on 3/25/24 at 6:17 am to FLObserver
We’ve never adjusted withholdings
I made about double what she made last year.
It says we got the 4k tax credit. I just don’t know with the thousands of deductions we had it didn’t move the needle $1
I made about double what she made last year.
It says we got the 4k tax credit. I just don’t know with the thousands of deductions we had it didn’t move the needle $1
3
Posted on 3/25/24 at 7:30 am to dallastiger55
quote:
the 4k tax credit
that's reduces your overall tax.
The standard deduction (or thousands in deductions) reduces your taxable income.
these are two different things.
quote:
I made about double what she made last year.
this doesn't give any more information than you already have given. you could be making 40k and she could be making 20k or you are making 500k and she's making 250k.
Go look at the tax summary on your return and it should show comparisons to the last 3 years. Did any of the figures change dramatically more than the year(s) prior?
Posted on 3/25/24 at 8:47 am to dallastiger55
We’ve never adjusted withholdings
I made about double what she made last year.
---
But did your total income increase from the previous year?
My son called with the same situation. He was surprised that his income had bumped up as much as it did.
I don't think tax rates changed.
I made about double what she made last year.
---
But did your total income increase from the previous year?
My son called with the same situation. He was surprised that his income had bumped up as much as it did.
I don't think tax rates changed.
This post was edited on 3/25/24 at 8:49 am
Posted on 3/25/24 at 12:33 pm to dallastiger55
update- my wife's work said she's at Single with 1 allowance (we are married with 2 kids and i make more)
23 vs 22
combined total was 18k more.
also, my 12d box for 401k was 3k more in 23
for simple math, lets say i made 130k and her 65k. Its fairly accurate
23 vs 22
combined total was 18k more.
also, my 12d box for 401k was 3k more in 23
for simple math, lets say i made 130k and her 65k. Its fairly accurate
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