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How could our W-4 withholding be so off?

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Veramocor

Senior member
I'll skip to the cliffs
-----------------------
Married
I claimed 1 expemtion my wife claimed 0 exemptions
Thats 1 less exemption than we could have claimed.
Standard deduction/no dependents/some student loan interest deducted
Did my taxes using a software program and we're in the hole for 3,500, first time ever.
Last years taxes were a decent refund due to deductions from owing a house.

How did we underwithhold when we clearly claimed less exemptions then needed?
 
Ya, its kind of sucks. It is my first time doing taxes and I get $69 back from the Feds but I have to pay IL state $40.

I mean come on, I get taxed without representation? I did not get to vote while working the 2008 year. I already gave IL state $86 in taxes from my check and they want more.

THAT IS JUST WRONG!
 
Yeah, I normally get $500-$1800 back, with everything maxed out, but this year I owe $900 - first time I've ever owed $$ in 12 years of filing..
 
Originally posted by: Veramocor
I'll skip to the cliffs
-----------------------
Married
I claimed 1 expemtion my wife claimed 0 exemptions
Thats 1 less exemption than we could have claimed.
Standard deduction/no dependents/some student loan interest deducted
Did my taxes using a software program and we're in the hole for 3,500, first time ever.
Last years taxes were a decent refund due to deductions from owing a house.

How did we underwithhold when we clearly claimed less exemptions then needed?
Click to expand...


you did it wrong?
 
Out of curiosity, how did you file? My income has remained constant for the past 5 years (same deductions, typical 3-5% raise) and I usually get anywhere from $1,000 to $1,300 back.

This year I got $300. I found that extremely bizarre.
 
Originally posted by: Veramocor
I'll skip to the cliffs
-----------------------
Married
I claimed 1 expemtion my wife claimed 0 exemptions
Thats 1 less exemption than we could have claimed.
Standard deduction/no dependents/some student loan interest deducted
Did my taxes using a software program and we're in the hole for 3,500, first time ever.
Last years taxes were a decent refund due to deductions from owing a house.

How did we underwithhold when we clearly claimed less exemptions then needed?
Click to expand...


Without the mortgage write-off, you may have been pushed into a higher tax-bracket than last year with your combined income.

Your seperate withholdings do not account for your Wife + your income, it would have no way of knowing what tax bracket you will end up in combined.
 
Originally posted by: funkymatt
Originally posted by: Ocguy31
$1734 tax bill 🙁


I will be drinking tonight at a local Mexican place if anyone needs me.
Click to expand...

los cabos cantina off of lake forest?
Click to expand...

LOL. People from my work play in a pool league there. Ive had some hazy nights there to say the least.


Work in Lake Forest area, live in Anaheim Hills though.
 
Originally posted by: Ocguy31
Originally posted by: funkymatt
Originally posted by: Ocguy31
$1734 tax bill 🙁


I will be drinking tonight at a local Mexican place if anyone needs me.
Click to expand...

los cabos cantina off of lake forest?
Click to expand...

LOL. People from my work play in a pool league there. Ive had some hazy nights there to say the least.


Work in Lake Forest area, live in Anaheim Hills though.
Click to expand...

I work right across the street from there. I'm heasitant to say this, but wanna meet up for lunch sometime?
 
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