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@littlek: I always get screwed on taxes....
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@babyjmama: The calculator is a good place to start. But, if you and DH make significantly different amounts or combined you are in a higher tax bracket, you will want to ensure enough is being withheld.
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@babyjmama: Don't worry, I get so confused about taxes too even though on the surface I do get it.
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I owe, but taxes here are not deducted from your pay throughout the year.
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@lamariniere: do you get an estimate of what it would be, based on the previous year's filing? We always did, but it was wildly off when we actually had to file and pay.
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@littlek: @LindsayInNY: DH is a student so it's just my income...I left a note with our accountant. I guess I'm nervous bc I have NO idea what to expect from this year since my pay increased by about $20k from the previous year.
I'm money dumb.
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@babyjmama: If your pay increased, you may be in a different tax bracket which would mean you have more taxes taken out (not a ton in the grand scheme of things though). Basically, the more you claim (withholdings of 1, 2 3, etc. versus 1 or 0), the more money you get NOW. Versus less taxes out. The idea is that you need more money to care for more dependents. But if you claim 1 or 0, you'll have less money now and more taxes taken out. If DH is a student, you can probably get credits for him as well as LO (unless you earn too much for that).
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@babyjmama: I actually just emailed our accountant asking her if we should change our withholding or anything else. I didn't know what to expect either this year b/c both our lives changed so much in 2013!
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@LindsayInNY: oh I don't make THAT much money hahahaha...I wish!
I was in the poverty level before, now we are comfortable. Not as comfortable as we will be when DH graduates.....lawd have MERCY I'm ready for that! @snowjewelz: good thinking!!! Ps sorry for the thread jack
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@babyjmama: Haha no! I loved reading about the working of taxes cause I'm kinda clueless too. And the few long posts before about loans were really interesting too! I swear I learn everything I need in life from HB now
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@snowjewelz: same here! Someone on HB has knowledge about EVERYTHING. What did I ever do without this amazing place?!
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@looch: this will be my first year having to pay since we only lived here 2.5 months the previous year (I barely scraped under the threshold to not pay). No estimate since I'm self-employed, but my accountant told me to estimate half (eek!), and I just gave him my documents yesterday. My DH's salary is tax-exempt, lucky b*st*rd.
I was in the poverty level before, now we are comfortable. Not as comfortable as we will be when DH graduates.....lawd have MERCY I'm ready for that! 
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