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Posted by jIM on February 21, 2007, 6:28 pm
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I have lived and filed in Ohio the last 10 years (since
1997). Since 2000 I have owned a house (and claimed the
interest).
It appears my 1040 federal return is getting larger and
larger (more than 2k in 2006 and more than 1.5k in 2005
after 6 months WITHOUT the mortgage deduction- we moved).
We tend to owe the state of Ohio more each year (200 in
2006). Can someone explain to me what is happening with
Ohio? Last year we owed Ohio $400 and we withheld an extra
$30 from my wife's paycheck each month to try to make the
state return a "0" tax owed.
AGI for 2005 year was around 98k
AGI for 2006 was around 103k
married filing jointly (65k and 44k salaries). I claim 7
federal exemptions on my paychecks (and we still get 2k
back). We withhold extra state tax and still owe the state.
I heard Ohio is third highest taxed state (behind CA and
NY). Trying to understand scope of issue. Maybe it's the
exemptions... maybe we just make too much money... any
feedback is appreciated.
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