2007-05-23 15:37:21 · 2 answers · asked by Dmitry L 2 in Business & Finance ➔ Taxes ➔ United States
My experience in tax preparation shows, generally, having two jobs leaves you under withheld. Purchasing a home will help, but probably not enough. Take your paystubs, estimate your mortgage information, and call a good CPA. They can give you a real estimate of where you stand. Tax advice over the internet is worth about half of what you paid for it.
Congrats on the wife and home.
2007-05-24 11:00:16 · answer #1 · answered by BS 3 · 0⤊ 0⤋
The home might allow you to itemize by giving you substantial deductions for real estate taxes and mortgage interest, if those add up to enough, with your other allowable itemized deductions, to exceed the standard.
As far as a refund, that would depend on your total tax liability and on what you had withheld. If you had more withheld than your tax liability, you'll get the extra refunded to you. If you didn't have enough withheld, you'll have to pay.
2007-05-23 22:55:41 · answer #2 · answered by Judy 7 · 1⤊ 0⤋