Huge (for us) tax bill. What went wrong?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Did you do your own taxes, or did you use an accountant? We make what you make, though our incomes are evenly split. I can’t even imagine a 25k bill.

Part of the problem I bet is that the husband is being withheld at 0 for the first $12k and then 12% for the next $30k when he really should be being withheld at 24%. He probably should just quit if you are paying for childcare.

I wouldn't say that to a woman.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Biden tax hikes. Build back better…

Actually, around here, the problem is the Trump “tax cuts” which screwed blue states by eliminating the SALT tax deduction.

Why should other states subsidize your life? Pig.

You do realize that blue states on the whole subsidize red states, many of which have lower taxes? Red states on net are takers from the fisc. So from a tax policy perspective, that right there makes the case for zero caps on SALT tax deductions.

If and when red states start taxing their residents at a level where they don't need to suck at the teat of Uncle Sam, maybe a cap on SALT would be equitable.

[Anonymous]

The point is that taxes haven't really changed for simple case like yours since the 2018 Trump bill. You're not giving us enough info to diagnose the issue, but CPA can help.

[Anonymous]

I owe between 250 and 500k a year (or sometimes per quarter) after paying millions having already paid millions. Every year. 25k is nothing.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Biden tax hikes. Build back better…

Actually, around here, the problem is the Trump “tax cuts” which screwed blue states by eliminating the SALT tax deduction.

Why should other states subsidize your life? Pig.

You do realize that blue states on the whole subsidize red states, many of which have lower taxes? Red states on net are takers from the fisc. So from a tax policy perspective, that right there makes the case for zero caps on SALT tax deductions.

If and when red states start taxing their residents at a level where they don't need to suck at the teat of Uncle Sam, maybe a cap on SALT would be equitable.

Not true. That subsidy “calculation” never involved SALT in the past. So it was never a real comparison.

[Anonymous]

Anonymous wrote:I owe between 250 and 500k a year (or sometimes per quarter) after paying millions having already paid millions. Every year. 25k is nothing.

Weak trolling. If you paid millions in income tax, you screwed up.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Ok this is terrifying to me because this is the first year our HHI will be $250k. We were at $130k the last 5 or so years. We definitely do not have $25k to pay in taxes.

OP's situation is not really possible. Either she miscalculated her tax returns and owes far less, or her employer failed to withhold any taxes and she failed to notice that she didn't have any tax withholding last year.

What exactly are you doing with the extra hundred grand you're earning every year, sweetheart?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I just tell the IRS how much to withhold. If I owed 25k. I would just add 2k each pay period. The IRS knows nothing about your investments.

Dear lord, that’s about the equivalent to what my DH brings home a month. It’s not even worth him working as we are losing then $35k a year on childcare.

Lol if the genders were reversed DCUM would give you so much grief. Why is it assumed that the entire cost of paying for child care would come from what your husband brings home and not you?

I don't think you understood what OP was saying. She was comparing two things not saying her DH was paying for childcare. You have some serious, serious problems, freak.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Did you do your own taxes, or did you use an accountant? We make what you make, though our incomes are evenly split. I can’t even imagine a 25k bill.

Part of the problem I bet is that the husband is being withheld at 0 for the first $12k and then 12% for the next $30k when he really should be being withheld at 24%. He probably should just quit if you are paying for childcare.

I wouldn't say that to a woman.

I would. It’s the truth.