Posted: 4/5/2005 9:18:27 AM EDT
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If I received money last year but Turbotax says I owe money this year - WTH?, considering the following: ..........................................................2003......................2004 I actually made less money State and Local Income Taxes..................$1,664...................$1,655 State and Local Sales Taxes.......................N/A........................$988 Mortgage Interest...................................$1,367...................$2,573 Real Estate Taxes..................................$790........................$353 Charitable Contributions (Money)................$560.....................$1,380 Tuition and Fees.....................................$782.......................$986 Logiclly I should be getting more back!? |
BeetleBailey most likely you didn't hold your mouth just right. It doesn't seem logical you'd have to pay more. I can help you out IM me your schedule so we can work this out. Patty |
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I paid less taxes this year overall, but I would have OWED money had I not had a ton of deductions. I know several other people who ended up having to pay out where they did not before thanks to the reductions in witholding brought about by the tax cuts. Anyone else encounter that? Made me madder than a wet hen.... |
The tax rate went down so if you didn't make boo coo bucks more than last year your liability shouldn't have gone up. If you want someone to go over them to make sure you didn't miss anything just let me know. Patty |
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Reductions to withholding percentages are a good thing. They make income taxes more visible,and give you the time value of your money,provided you avoid end of the year penalties by planning ahead. Listening to folks complain about "paying more taxes" just because withholding percentages were altered always makes me shudder. It's almost as bad as the folks who say " I didn't pay any taxes this year. I got a refund!!".  |
Yeah you should. Single? Kids? You made less but was there some change in your filing status? Was less Federal withheld this year?????? That would be the major thing I would look at. The turbotax program is pretty good. Did you make a typo? I had to pay in this year also which was a first for several years and used the Turbotax program initially. So I ran it thru on my own, which is what I usually do, and it matched exactly. Did I tell you I hate the .gov, esp the IRS? Bastards. 
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