My wife and I both work, and both of us had filed W-4s as Married with 0 exemptions at the 25% bracket. We've yet to get our W-2s, but as I toy around with TaxAct, it's becoming increasingly clear that we'll owe federal taxes, despite having a dependent, itemizing our deductions, maxing 401(k) contributions, maxing out HSAs, maxing out dependent care FSAs, and our cafeteria insurance premiums.
Turns out I forgot to select "Married but withhold at higher single rate" when doing my W-4. You might want to change that for next year if you're on the same boat as we are.
Submitted January 12, 2017 at 09:34AM by Chuck_Peligro http://ift.tt/2jI29mv
