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taxes! Anyone tax savvy??
Arent married people supposed to get more tax breaks? When we used to file seperately unmarried we both would get money back. And that was before we had kids! Last year was a nightmare and we owed around 7000$. It was horrible! We readjusted everything, and I was on maternity leave almost 4 months so made a lot less money, so I thought we'd be set for this year.
Well I just did our taxes on turbotax and it says that we will still owe about a $1700 to the state, but get back $1100 from federal (so it end up being a 600 difference). 
To make it worse, the state has a childcare credit, where we could get up to $1200 for each child toward the cost of childcare, and our income was barely over the limit so we are not eligible. If we could get that credit we could actually get money back from the state!
Should I just take it to an accountant? Are there loopholes or things that accountants know about that we dont? I just dont want to pay a lot of money to find out the same thing. I dont get it! Even though it much better than last years situation, I am so stressed out about this.
Re: taxes! Anyone tax savvy??
Ugh, I have found the same things frustrating. DH & I owe the state this year. What's even weirder is that we claimed single all last year, so they were taking the most $$ possible, and then filed as married, and still owe. I don't get it.
I don't think there are any loopholes to get around paying the state in your case. To be honest, the IRS will catch up with you, so it's sometimes smarter to just play by the rules, then be caught later and end up owing with late fees and penalties tacked on. I'm all about finding ways to make the rules work for me, but not with the IRS.
I just wanted to say good luck! I'm no help at all. I typically go to HR Block and just get ours done. I get too confused to do them on my own.
Thanks, I dont mean anything illegal or where I could get in trouble later on. LOL I was just wondering if accountants know about deductions and things I might not. The IRA is a great tip!
Yeah I totally understand! I didn't think you were asking for illegal ideas anyways, and if I had those I wouldn't share here! LOL. It's just that in my experience the IRS is black & white, and there's no reasoning. I would hate to see you get caught in the "gray" area. Ya know?
Definitely look into the IRA. It sounds like that could help you.