ETA: I itemize, I give $$ to an IRA, and keep records. I know that my deductions at work are correct. This is just so frustrating. I am not rich by any means. I live within a budget. If I had a child on my income, I would be at the poverty level. This is just crazy!
[This message edited by hurtbs at 10:18 AM, February 9th (Sunday)]
"In life, unlike chess, the game continues after checkmate." - Asimov
"Be patient and tough; someday this pain will be useful to you." - Ovid
I ♥ my Husband!!!
DD(21), DS(18, PDD-NOS)
6 Furkids - 4 dogs, 2 cats
WXH (serial cheater, 12+ OW) - Legally married 18yrs
I edit often for clarity/typos.
[This message edited by hurtbs at 4:10 PM, February 9th (Sunday)]
Maybe you "fat fingered" and entry somewhere w/o realizing?
We also claim zero and still get hit. Told my h, we should have had six kids at least I would be paying for my own.
Yes I do my own taxes and I use TurboTax. All the data is correct. I ran the numbers three times. Even chatted with a CPA friend of mine. She said that this tax year has been crazy because of shut down, sequester, and other tax exemptions that have been allowed to expire. That those without child, marriage, or mortgage exemptions were hit the hardest with unexpected hikes.
Ugg, i hear you, and even us (with all 3) got hit pretty good.
I am so sorry you got hit so hard.
so I know I'm going to have a huge bill.
It really fries me how big corporations like Facebook pay ZERO taxes. They make BILLIONS of dollars, and pay no taxes.
It's not fair. Yeah, this year, I know I fucked myself over.
Also did you max out your IRA? if not, it isn't too late. You can set any contributions you have planned through April 15 to go to the 2013 tax year rather than this year. If you still won't max it that way, try running the numbers to see if it would be more advantageous to give some of your savings to the IRA rather than the IRS.
Another thing you can try in the future is alternating your itemizing years; make extra payments and donations on years you itemize, take standard deductions on year you don't.
And finally, (((hurtbs))).
I don't itemize my deductions because I actually don't have much to itemize. Are you sure its not better to use the standard deduction amount in your case?
I got a raise (nothing huge) this year so I'm sure that also played in on it.
The only time I ended up owing was when I worked for a mom-n-pop real estate office and she blew it on the withholding. She wouldn't ADMIT she blew it - she said she checked and rechecked every time and it was perfect. I went to a tax preparer and he told me in a matter of minutes that she was mistaken in her calculations.
If you made the $1,500 in cash, a HUGE chunk of that should have gone to taxes. If you declared it, they're going to want a lot of that back.