<< Back to all Blogs
Login or Create your own free blog
Layout:
Home > Taxes
 

Taxes

January 23rd, 2006 at 01:40 pm

I got my W4 forms in the mail today. Although I don't have all of my mutual fund statements, I felt like I had enough info to get a feel for what the tax picture would look like. Boy did I ever! First cut has us owing in the neighborhood of about $6000! We always owe (last year was about $3000, which was bad enough). We never readjusted our withholding after we refinanced our mortgage (and are paying significantly less in interest). Last year we owed a small penalty (~$30) and still didn't bother changing the withholding! I usually get about $1800 back from NYS, but that's still a huge chunk to pay. Thank goodness for hubby's bonus in April, though we hate the fact that we always need to use it to pay taxes.

I talked to hubby about going to an accountant this year. We've done it a few times in the past, but I hate to pay someone $400 to tell me I owe $4000! But with the AMT, and with the fact that we live in NJ and work in NY, it's getting complicated enough that I'd feel better with professional help. And he should be able to tell us what to set our withholding at once and for all. I hate this time of year...

0 Responses to “Taxes”

Leave a Reply

(Note: If you were logged in, we could automatically fill in these fields for you.)
*
Will not be published.
   

* Please spell out the number 4.  [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]