Hello, I believe the federal taxes I owe are too high and I'd like help understanding why they are this value or how to fix this.
My W2 income is $70,353. I only have a W2, HSA, and retirement account to report on taxes.
I took the standard deduction of $13,850. This should make my taxable income $56,503. Using the 2023 tax brackets I calculate that my federal taxes should be around $6,430. TurboTax and FreeTaxUSA both say my Federal Taxes owed are $7,743. Why are my taxes owed to much higher than my taxable income would suggest?
Thank you.
