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Discussion in 'Sidewinders Bar & Grille' started by oatsoda, Mar 10, 2019.
Well, my wife and I wound up owing this year. ! a
I wasn't too concerned. With the changes in the witholding tables, my take-home bumped a bit, but I did the math and it looked like it would be OK even if my total tax didn't change.
I made $5k more, my refund was $1k less, but my bottom-line taxes owed was $500 less than last year, even though my income was higher.
Had the witholding tables not been adjusted, my refund would have been $500 more, and I probably would have added a deduction to increase my month-to-month take-home.
The French are always surprised that the US taxes retirement income.
My wife and I have always planned it so that we owe a little, not so much as to incur interest and penalties.
We always put enough aside during the year to cover it and have a bit left over for a treat or two.