Welp, I completely fucked up my 2006 taxes. 2006 was the first year that my wife and I were both filed as "Married" for the entire year on our W4. I kept 1 allowance, she claimed 0. Turns out, clicking that one little 'Married' box causes your federal withholding percentage to drop FAR below what is actually owed in income taxes.
Put another way, we owed about 15% in federal income tax (after deductions, et. al). Marking "married" as our filing status caused our companies to withold about 11%.....leaving us with a nice fat deficit at the end of the year. Fuck. Was I just stupid to think that claiming only one allowance would pretty much ensure that our bi-weekly withholdings would be at or near the income tax percentage owed??? Has anyone else gotten hit by this, or am I just a dipshit? -- She's a PhD in "I told you so" You've a knighthood in "I'm not listening" ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Macromedia ColdFusion MX7 Upgrade to MX7 & experience time-saving features, more productivity. http://www.adobe.com/products/coldfusion Archive: http://www.houseoffusion.com/groups/CF-Community/message.cfm/messageid:228658 Subscription: http://www.houseoffusion.com/groups/CF-Community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5
