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naeearly
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I get taxes taken out of my check every pay period. Why do I owe on my taxes?

 
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2 Replies

I get taxes taken out of my check every pay period. Why do I owe on my taxes?

It may have not been set properly to cover all of your taxes for the year.

 

IF the $$ amount you owe is really high (over $1000) , you might need to change your W-4 claims at your W-2 employer to increase the withholding being done. 

 

Also, if you do have some Self-employment income, you need to either  a)  increase that withholding at the W-2 job, to an amount greater than  would be normally needed for just that W-2 income, or b) pay separate Quarterly Estimated Tax Payments to cover both the SE taxes  (SS and Medicare taxes), and the Income taxes that may result from your SE income. 

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

I get taxes taken out of my check every pay period. Why do I owe on my taxes?

you need to have your employer take more out of your check every pay period.

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