WTF Taxes. WTF. How do i owe money...WTF

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TheSiege

Diamond Member
Jun 5, 2004
3,918
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I work 2 full time jobs, i claim 0 for state and federal from both jobs.
I contribute to a 401k. I pay for medical and dental coverage and took a college course this summer so i paid 1000 in higher education and i still owe the federal government 363 dollars?
WTF? some one please explain. i made 22.7k at one job and 28k at the other...
 
Jadow

Jadow

Diamond Member
Feb 12, 2003
5,962
2
0
both jobs withheld as if it was your only job. I see this a lot with people who have 2 jobs. When you work 2 jobs, each individually will withhold less than the total you owe. you need to withhold zero, then an extra $20 or so on one of the jobs.

 
AnyMal

AnyMal

Lifer
Nov 21, 2001
15,780
0
76
How did you calculate it? Assuming your callculations are correct the best course of action would be to max out your 401K contribution, perhaps even open an additonal IRA on the side.
 
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TheSiege

Diamond Member
Jun 5, 2004
3,918
14
81
Originally posted by: AnyMal
How did you calculate it? Assuming your callculations are correct the best course of action would be to max out your 401K contribution, perhaps even open an additonal IRA on the side.
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i used taxact, and my w2s, im at 9% at one for my jobs for 401k but i guess i can up it
 
HeroOfPellinor

HeroOfPellinor

Lifer
Dec 27, 2001
11,272
1
0
Originally posted by: lobbyone
So they don't deduct State and Federal tax from your pay?
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No, they take more out the fewer exemptions you declare. I'm at 9 myself and I still get a refund.
 
HeroOfPellinor

HeroOfPellinor

Lifer
Dec 27, 2001
11,272
1
0
Originally posted by: TheSiege
Originally posted by: everman
What Jadow said.
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how can i have them deduct more? i claim 0, can i claim -1?
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You can ask them to take out an additional amount on top of your calculated taxes or a flat percentage from the gross.
 
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TheSiege

Diamond Member
Jun 5, 2004
3,918
14
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Originally posted by: HeroOfPellinor
Originally posted by: TheSiege
Originally posted by: everman
What Jadow said.
Click to expand...

how can i have them deduct more? i claim 0, can i claim -1?
Click to expand...

You can ask them to take out an additional amount on top of your calculated taxes or a flat percentage from the gross.
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i guess ill do that
 
HeroOfPellinor

HeroOfPellinor

Lifer
Dec 27, 2001
11,272
1
0
Just for giggles, if I were you I'd run my numbers through TurboTax online.

Also, looks like taxes in Utah will be different this year.

Effective for tax years beginning January 1, 2007, the bill implements a single rate tax calculation method, commonly referred to as a "flat tax" calculation. It allows taxpayers to choose a single rate of 5.35 percent with credits and limited deductions instead of the traditional bracketed rates with traditional deductions and credits. This change will affect future returns starting with the 2007 Utah Income Tax Return due April 15, 2008.
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Eos

Diamond Member
Jun 14, 2000
3,463
17
81
Too bad OP.

On a lighter note, I already got my fed refund deposited to my checking account. On the 2nd, actually.

The amount that was kept by the government was 4.7% of my gross wages. Cookie?
 
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TheSiege

Diamond Member
Jun 5, 2004
3,918
14
81
well in utah i was able to get money, so when its all said in done ill only owe 140 bucks total
 
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TheSiege

Diamond Member
Jun 5, 2004
3,918
14
81
i live in utah. 5 bedroom 2 bath 2000 sq ft for 155k and i got a government grant to cover 10k and the city covered 5k.
 
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