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Posted by douglasmp72 on February 3, 2008, 2:13 pm
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I work two jobs, my first income is 60,000 and my refund was to be
approx 2300 total with state, but when i put in my second job which i
earned 5500 my refund dropped to 715 with me owing state 50.00. My
second job was taking out taxes appropriatly, is this possible? I
used an online tax service?
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Posted by dpb on February 3, 2008, 3:26 pm
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douglasmp72@yahoo.com wrote:
> I work two jobs, my first income is 60,000 and my refund was to be
> approx 2300 total with state, but when i put in my second job which i
> earned 5500 my refund dropped to 715 with me owing state 50.00. My
> second job was taking out taxes appropriatly, is this possible? I
> used an online tax service?
Undoubtedly the second witholding was taking at the rate as if that were
your only income. Presuming a second job doesn't bring in the same rate
as your primary, it was still underheld in relation to your total
taxable income.
To prevent this in the future (although, personally, I see no reason to
pay more than necessary any earlier than necessary, many seem to prefer
it) would require a revised deduction(s) request for one or the other
employer.
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<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
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Posted by Condor on February 3, 2008, 7:25 pm
Please log in for more thread options >I work two jobs, my first income is 60,000 and my refund was to be
> approx 2300 total with state, but when i put in my second job which i
> earned 5500 my refund dropped to 715 with me owing state 50.00. My
> second job was taking out taxes appropriatly, is this possible? I
> used an online tax service?
Provide the following amounts from each Form W-2:
Box 1 wages
Box 2 withholding
What is your filing status?
Condor
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
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Posted by Phil Marti on February 4, 2008, 9:06 am
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>I work two jobs, my first income is 60,000 and my refund was to be
> approx 2300 total with state, but when i put in my second job which i
> earned 5500 my refund dropped to 715 with me owing state 50.00. My
> second job was taking out taxes appropriatly, is this possible? I
> used an online tax service?
It's not only possible, it's probable if you didn't look at your whole
picture when you filled out your W-4's. It's not that your second job is
having this effect. To see what I'm talking about, input the W-2's in
reverse order.
You need to go through the W-4, including the worksheets, which deal with
two jobs.
--
Phil Marti
Clarksburg, MD
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
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