My husband mad 145k in regular salary and was taxed 50k on that, then he received 2 bonus's one for 48k which he took home 32k and the other one I know his take home from that one was 105K. I also worked and made 45k. From what I can piece together we paid somewhere like 150k in taxes,
we own a home and have 2 kids, do we still have to pay MORE taxes.
2007-01-26 11:40:22 · 4 answers · asked by rxing 7 in Business & Finance ➔ Taxes ➔ United States
i just wanted to add, we have charitable contributions of about 5000$ and paid 45k in interest and taxes on the house
2007-01-26 12:03:18 · update #1
Please consult a CPA or Tax Accountant. You can't base your tax liablility just on how much you paid in taxes during the year. There are many other factors involved. You say you own a home, but what you pay in taxes and interest are key. They will also consider any or tax deductible expenses, charitable contributions, and even loop-holes.
2007-01-26 11:53:57 · answer #1 · answered by zphtar 3 · 1⤊ 0⤋
Your income was 343,000.00. You payed 150,000.00 in taxes. With the interest on your morgage and the children as a deduction you should not have to pay in, but without figures on your morgage interest I couldn't tell you how much you might get back. For future reference, if neither of you will claims anyone through the year and then at tax time you file joint and claim all four of you as dependants you may not have to pay at all or not near as much. Figure at least 1/3 of your gross income for taxes and then add 10% to that and put in savings. At the end of the year you should have more than enough to pay your taxes, but you may want to get a CPA to look it over and see how close my figures are since with the money you make, which is a whole lot more than I make my figures may be off, but I'm usually pretty close. Figure $130,000.00 to $ 150,000.00 put back for taxes to be safe. You amy get back $20,000.00. Good luck.
2007-01-26 12:10:11 · answer #2 · answered by golden rider 6 · 0⤊ 0⤋
Trust me when I say you should not take the advice of /anyone/ off of Yahoo for this. Instead, go to a CPA and ask him, because unlike virtually every person on here they'll actually know what they're talking about and not cause you to end up with either tax penalties or worse.
2007-01-26 11:45:50 · answer #3 · answered by timster1984 2 · 1⤊ 1⤋
yes if noy you will lose your home
2007-01-26 11:45:14 · answer #4 · answered by bokiera97wink 1 · 0⤊ 1⤋