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Agang579 · 11-28-2004, 11:55 AM

If I have the maximum withheld from my income, shouldn't it pretty much cover my taxes? My wife and I file a joint return. We each claim no exemptions on our withholdings so as to have the max withheld. I do the same for my Navy retirement pension. We do not itemize and we take the standard exemption. We do not have a state income tax. I have one dependent child under 18. My AGI is 65K. Bottom line is I still end up paying a significant amount of tax ($600-$1200) over and above what was withheld. Is this normal? Thanks for any input.

11-28-2004, 11:55 AM	#1 (permalink)
Agang579 Upright	Can someone tell me about withholding? If I have the maximum withheld from my income, shouldn't it pretty much cover my taxes? My wife and I file a joint return. We each claim no exemptions on our withholdings so as to have the max withheld. I do the same for my Navy retirement pension. We do not itemize and we take the standard exemption. We do not have a state income tax. I have one dependent child under 18. My AGI is 65K. Bottom line is I still end up paying a significant amount of tax ($600-$1200) over and above what was withheld. Is this normal? Thanks for any input.