For the first time we owe taxes. Several thousand, in fact. Withholding is already at zero. We didn't suddenly win the lottery last year. No side income. Didn't sell off any property or inherit anything.
Sure hope the billionaires are enjoying that tax break we're paying for. π
WTF?!? π€¬ Any chance this is a mistake?
Last year we got $1,100 returned. Pretty huge swing.
This is wrong on so many levels. βΉοΈ
We have no problem with paying our share, but damn it hurts to have it jump so much so suddenly.
I agree but there needs to be an explanation for why this is happening given your economic situation hasnβt changed since last year.
Pandemic tax breaks ending & tweaks to the tax brackets seems to be the main issues.
oh, ok. I've never filed using anything other than the 1040EZ. yay for being poor.
We're definitely not rich. One of the few remaining middle class, barely, bc we don't have kids, share a car, no vacations, hus didn't go to college so no loan debt, bought a house at market value (ie an old wreck), don't go to movies, rarely buy clothing, fix up the house ourselves (w/a couple exceptions, like the roof), 15 year old TVs, don't do xmas, hand-me-down computers... You get it. We allow ourselves diy art & hobbies, bc life is bleak w/out that. House eats up the rest.
I apologize for how I phrased my reply. I meant I've never made enough, even when married, to do any sort of itemization. I think there was only one year, when I was married, where we had to pay and that was because I goofed filing out a W4 when I started a new job.
I've always been under the impression that one way to avoid having to pay the yearly taxes, or keep them low, is to have a lot of itemizations like owning a home, donations to nonprofits, etc.
Damn, even with owning a home? π
Like you said earlier about paying your fair share, I'm a Socialist but there's a point where I get fed up with the amount of taxes that are hitting people. Well, everyone who isn't a millionaire/billionaire.
Exactly. Our "fair share" should NOT be stupid high because the rich and businesses AREN'T paying taxes!
I just re-read my comment. I did come off as defensive. That wasn't my intent. I was trying to provide context. π¬
@see_the_sus
No offense taken. π Itemizations can help, but unfortunately we don't pay enough for things that qualify for itemization. We tried it one year after a particularly brutal medical expense year, and we still fell far short. So we just do the standard on the 1040EZ.