thank you for your help! he works as w2 employee

I apologize, I'm still having issues with typing and such but the amount that was quoted to be 25k.

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You need to get a second opinion. I’m in the state of North Carolina and I claim 0 dependents though I have some. I figure about .8 of my salary goes to taxes, so if you make $75,000 before taxes times .8, your would make about $60,000 after taxes. That’s means you should pay/owe about $15,000. That’s not a perfect system, but it’s been fairly accurate for us. Essentially, I overpay with the dependents and get money back.

Without knowing your income and state of residence, it's hard to answer this question with precision. My suggestion is to use a Tax-Equivalent Yield calculator to compare net yields from different instruments suited to your circumstances. A Treasury Bill may be more valuable if you're in a high income tax state compared to a CD, even if the APY on the CD is higher. Also in-state municipal bonds are potentially tax-free if that's an option.

There is a possibility that payroll neglected to apply the two jobs checkbox in the computer.

Claiming single without "two jobs" has the exact same effect as claiming MFJ with "two jobs" (up to about $720k income), but less error-prone during data entry.

This is why I like to call it the Un-affordable Care Act. I’m self-employed, and I have private insurance. Don’t even get me started. We have the worst, most expensive, least healthy, healthcare system in the world. And the hospitals and providers love it!

You mentioned that they help you file taxes and do not file on your behalf. Are you sure they are not a ghost preparer?

“By law, anyone who is paid to prepare or assists in preparing federal tax returns must have a valid Preparer Tax Identification Number, or PTIN. Paid preparers must sign and include their PTIN on the return.”

https://www.irs.gov/newsroom/beware-of-ghost-preparers-who-dont-sign-tax-returns

This was beautiful. Thanks for that. Worded to perfection. That is all very true too, however maintenance and repairs can be done by me. I picked up a 1k car and repaired it, but it needed an engine swap at the end. I've only put 1.5k to learn the majority. I know how to full-on rebuild minus engine swap. That was going to be expensive for a rebuilt title, so I didn't do it.

However, this is something very true. Insurance and gas will be eating at me, plus the sneak up registration. With the current debt I'll have. Tackling it all will put a heavy load on me mentally and physically since I'd probably pick up additional work.

I'll focus on the debt, not worrying too much about a car other than putting money away for it. When I can pay it off, my debt is only when I will focus on a car situation.

Thanks for this post. Have a lovely day!

I got lucky about three weeks ago with a 5.3% bond, but they're not paying as much now so CDs are the more profitably thing to buy right now since bonds are down.

The things to look at here are:

• Is there a basic math error somewhere?

• Would filing separately instead of jointly be better? With a low annual income your repayment amount should be capped to a much smaller amount.

• If filing jointly, how much of the repayment of APTC is included with your Self-employed health insurance deduction?

Sounds like a repayment of your premiums combined with self employment tax

This is about right I’d your husband didn’t pay any taxes in on his salary. Given the 11k you made, I’m guessing you paid very little in, if any, also.

Get a second opinion.

Something has gone very, very wrong with calculating how much, if anything at all, you owe Treasury to repay what it paid an insurance seller on your behalf.

Read the fine print about what fees you might pay if you need the money before the CD expiration date. They will often take most of the earned interest and sometimes a fee on top of that. I learned this the hard way.

The one where you owe Treasury some/all of the public funds subsidy it paid an insurance seller in 2022 because it turned out you earned more money than you or Treasury guessed you would.

>Your insurance premiums are paid to insurance companies

Treasury's funds are paid to insurance sellers,

>and have nothing to do with April tax time.

and have absolutely everything to do with April tax time.

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You cant really read a chart and get an accurate return for a target date fund...they change their assets regularly. If you try to look at the 30 year return for a 2030 fund it will be a smear of returns going from almost all stocks to a fair amount of bonds. That isnt really a good way to read relative performance.

Id just use the target date fund with the date being your estimated retirement date. So if you think you will retire in 2060 go with the 2060 fund. Unless the expense ratio for those funds are very high relative to the other funds on offer.

I don't think there's any way you could possibly owe 22k if you only made 11k this year. Even if your SO earned the remainder of that 75k. Consult a professional in this field, reddit won't be able to help you outside of letting you know that something fishy is going on.

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no it isnt. Would be half that.

Yes we both double checked it. I wonder if one of the hr systems is wrong.

For some reason, some employers fail to process the 2 jobs check box. One of your employers may have missed that previously.

Hmm, Married + 2 jobs or Single should work in your situation. Are you sure both of you had the right W4 options selected?