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My wife and I got married 4/16/2016. We don't have kids and clamed 0 on our taxes and this year we own nearly 3k. Our total income was 217k. Why would we owe?
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June 4, 2019
9:53 PM
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Get your taxes done using TurboTax
Because each of your withholdings was calculated as if that were your only (Joint) income. Added together, though, you end up in a higher tax bracket..
http://fairmark.com/general-taxation/reference-room/2017-tax-rate-schedules/
June 4, 2019
9:53 PM
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Get your taxes done using TurboTax
Sorry can you elaborate? When I ran each of our w-2s as if we were single I end up with a ~$700 return and she owes $2800. I made 150,000 and she made 70,000. I would assume there is a tax benefit to filing jointly and married. Seems as if there is something wrong in how her company has been deducting taxes even though she claimed 0. Can you give me a little more info when you get a moment? Thanks
June 4, 2019
9:53 PM