Tax question!!!!

[ls1bandit]

Okay so I finished doing my taxes for this year and I am getting back about 5500 from fed and owing 600 to state, but as I was finishing up there was a comparison from this years to last year and everything was pretty much the same but I owed 3k last year. If you look at the summary for last year it states I owed 11,181 in taxes and paid 11,346 but if I paid more then I owed last year how did I have to pay 3k in taxes? Here is a print out of my summary.[IMG][/IMG]

[SeVeReDiStOrTiOn]

Making more last year put you in a higher bracket? I dunno

[SouthernBornThriller]

Only funky thing I see is you had about $10k more taxable income last year than this year, but roughly the same amount was withheld already both years. Hence you didn't pay enough last year, but overpaid this year.

[ls1bandit]

Only funky thing I see is you had about $10k more taxable income last year than this year, but roughly the same amount was withheld already both years. Hence you didn't pay enough last year, but overpaid this year.

Yes but you still have to look at the taxes that are due, it states I only owed 11,1xx last year and I had ALREADY paid 113xx so how does that make me owe 3k?

[Spaz]

you have 10k less taxable income and paid $500 more than the previous year...

[Mr. Luos]

That and the tax brackets (tables) can change from year to year.

[INMY01TA]

What do you do for a living?

[ibanez7]

what was your dependancy claim, this year and last year.
Also was your income based off of one w2 or more?


odd, I was taxed $14,000 federal