Getting Less, a lot less

eglfan12 · #1 (**permalink**) 01-28-2014, 04:37 PM

We have begun to file our taxes for 2013. as it sits right now, we will be getting about $2800 less than last year. We made less money in 2013 than in 2012, We claimed less dependants on our W-2's to have MORE tax taken out and we had a child turn 17 in 2013.
Our AGI for 2013 was about 86K compared to about 97K in 2012.
Our deductions are about the same as before.
WTF?

Wnhough · #2 (**permalink**) 01-29-2014, 08:05 AM

Quote:

Originally Posted by eglfan12

#1;We have begun to file our taxes for 2013. as it sits right now, we will be getting about $2800 less than last year. We made less money in 2013 than in 2012, We claimed less dependants on our W-2's to have MORE tax taken out and we had a child turn 17 in 2013.

#2;Our AGI for 2013 was about 86K compared to about 97K in 2012.
Our deductions are about the same as before.
WTF?

#1;Correct.On your W4s with your ER.As you decrease W/A on W4s , you may get more refund since more taxes are withheld form your paychecks.

#2;I can't give me hard answers without all the hard data; perhaps as You paid less taxes and less taxes w/h from paychecks when compared to those of last year I guess. this year you owed little. last year since you made a lot more, you owe more tax so they keep more of what you paid in.