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Reply to "Huge (for us) tax bill. What went wrong?"
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[quote=Anonymous]DH and I are doing our taxes and we owe about $25k which is shocking. We make around $230k pre tax and take the standard deduction. We both claim all 0s and pay several hundred dollars a pay period extra. In theory we should be paying an extra $2k per pay period per month right to the IRS? Here is the kicker, we have a huge disparity in income. My DH only makes $40k and by increasing our withholding it gets to the point where it's silly for him to even work. He carries no benefits for us and his employer doesn't do a traditional 401(k). I know more information is probably needed, but any ideas on what we are doing wrong. This was quite the gut punch. [/quote]
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