I owe Uncle sam $1200

**bjl584** · 03-01-2012, 12:40 PM

Originally posted by artwest

Looking on the bright side, at least you didn't loan the government money interest free like some people do.

Yes, it's better than a refund, but it's still going to be a hard check to write. Last year I "guessed" pretty well at my taxes and only owed about $100. Selling stock this past year really put the screws to me this time around however.

**brightyellowhaha** · 03-03-2012, 07:14 AM

I owed the feds $1400 and I'm getting $600 back from the state. So all and all I'm owe the government $800 which isn't that bad. As the previous poster mentioned I rather pay (a manageable amount) then receive a huge refund.

**autoxer** · 03-03-2012, 04:00 PM

But what was the total tax bill? That's what really counts, not when you pay it.

**J. Spence Financial** · 03-03-2012, 10:10 PM

You might want to take a look at your W-4 and make some adjustments so next year you are closer to even. For example if you lower your exemptions you have them take more out then you won't owe as much if at all at the end of the year.

**kv968** · 03-04-2012, 04:38 AM

Originally posted by bjl584 View Post

Yes, it's better than a refund, but it's still going to be a hard check to write. Last year I "guessed" pretty well at my taxes and only owed about $100. Selling stock this past year really put the screws to me this time around however.

I'll take your capital gains if you'd like to declare my losses

**snafu** · 03-04-2012, 11:29 PM

Your investments have obviously been good, most of us are thrilled to make capital gains taxed at only 15%, you get bragging rights!

**Nightfly** · 03-06-2012, 02:55 PM

Too bad your hard earned (or at least "smartly" earned) money will get spent on wasteful programs run by bloated bureaucracies. But that's a whole other post...

**feh** · 03-07-2012, 10:43 AM

Haven't done my taxes yet, but I'm anticipating a fairly large bill this year, due to about $40-50K in capital gains last year.

I owe Uncle sam $1200