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Why Do I Owe Taxes If I Claim 0 Exemptions || Why I Owe The IRS So Much In Taxes This Year

Wendy Valencia 25 views

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Soo make the same amount as last year but owe this year…that doesn’t even sound right They are literally asking for more money on top of what you already gave them 0 should mean zero
Comment from : @savageafmusic

That is what happens when you put a guy like Biden in the seat, that is why is happening
Comment from : @DOBLERR74

So basically if you WORK for a living, Trump raised your taxes
Comment from : @madvillain1987

Why do we have to pay taxes when I pay taxes when I get my paycheck
Comment from : @martinarnaud1266

Trash video
Comment from : @FreeOfTheLoop

My wife and I are honestly looking to downsize and lower our income now Unless you’re a billionaire Making good middle class money only benefits them Screw that! Work hard for less I’m thinking work less for more The IRS are just bullies on the middle class
Comment from : @Rottweiler777Eve

us govt is a joke
Comment from : @ace72976

Only thing I have learned about taxes is that the working class is screwed while those who do not work, get a refund I am better off quitting my job and filing bankrupt
Comment from : @mandalynnmitts77

I am single and claim zero and have done so my whole employment life, and I always received the refund of at least $1,000 every year, prior to 3 years ago, now this year I owe them $95 which don't seem like a lot what it is if you live check to check, they take enough from me, I don't understand
Comment from : @deeboy4378

We owe a hefty $4,800 this year! We owed last year also, not as much so my husband and I deducted and extra $75 per week to federal Needless to say we were shocked! Question tho, would contributing more to 401k provide the same level of security as paying extra to federal? Thank you!
Comment from : @lisagrace667

It’s all trump Tax the lower and middle class while giving the wealthiest individuals and corporations a tax cut brTrump screwed us, plain and simple But that’s what he has done his entire life Screw over the common people
Comment from : @Lorangebeatrice

How come claiming 0 they don’t take out how much there suppose to take out smh brWhy should I have to give extra
Comment from : @terranceali9787

Thank you for this video Taxes are frustrating
Comment from : @mwilliamsonn

The government screwed us over? Why am I not surprised? Bastards charged me over a thousand because of their gerrymandering
Comment from : @fyrewatermelons

Seems like shady business
Comment from : @cainadams5917

How can the government change how much we get back/pay each year? I made the same amount last year as the previous year and only get $14 vs $2k
Comment from : @cainadams5917

I'm not shock, I pay every year
Comment from : @reginalddurley4162

Lol, $3600 Them is Rookie #'s
Comment from : @johnnyr2677ify

I do 0 and Single and never owe and federal but every once and a while I do owe State Except this year because I took a leave of absence from work and got hit with a 1099MISC and now owe a combined $1,034 Fed and State
Comment from : @spallaxo

I claim 0 and I’m a w2 employee My taxes are taken out every week and I get a bonus check 1 time a month that is taxed as if I make that every week Keep my money and don’t bother me but I’m not giving the irs more of my hard earned already taxed to DEATH MONEY GTFO
Comment from : @edwardfiorvante6123

Sounds like a good problem
Comment from : @xsqd5e7en30

Hello Wendy, were you able to claim your child on the Federal allowance section on your pay stub?
Comment from : @iamgratefuldailyy

can you amend a tax return because a dependent you claim owe money and you didn't know about it
Comment from : @myshirt84

Did they change the rules in the middle of the game
Comment from : @mikeritter2979

Reduce your taxable income by contributing the maximum amount to your TSP $18k per tax year
Comment from : @extremerecluse2095

the reason they want to make sure that government workers are paying their taxes is because government workers are paid with private citizens taxes
Comment from : @bobbyhempel1513

Can you no longer claim yourself as a deduction/dependant on your W-4 under trumps tax plan? I dont want to own at the end of the 2020 year
Comment from : @Hey_its_Koda

Our beautiful president Donald Trump is killing us with the tax laws
Comment from : @josem6914

i dont know what happened my bf filed his taxes and he is a server at a restaurant and owes 13 thousand dollars :( we don't understand and we're super scared
Comment from : @eyeball000

This is crazy to me I always thought everyone got money back at tax time Its my favorite time of the year because it's the only time we have a lot of money to save for christmas, vacations, and get things we desperately need but can never afford This year we need a new microwave and skillets, and to fix one of are cars We should get around 6 grand back but now I'm nervous We'd never be able to pay the IRS
Comment from : @BeautyMommysUnite

Low level bureaucratic human pile
Comment from : @fredericksaturnine4167

First name lol
Comment from : @veevee9923

My name is Valencia lol 😄
Comment from : @veevee9923

I'm taking care of mine this coming week The IRS is a corporation, whose home office is in Puerto Rico Doesn't matter if true or not because by law some human being, in law a person is also a cooperation, will have to produce an affidavit of fact with his or her signature to prove that I in fact owe them money It is a punishable offence to turn a right into a privilege We have the right to work and we don't have to pay to do it It's for the people by the people not for the government by the people It's time to put these people in their place
Comment from : @chrispreston9573

Isn't part of what your CPA is supposed to do for you calculating the proper amount of withholdings for you?
Comment from : @kdarby08

Wait, you work for the goverment and your department didn't manage to implement the changes? It sucks
Comment from : @angelikalaser7778

I had 5 exemptions in the w4, married, 3 kids, took the std deduction, and got back $3,500 refunded Overall my tax liability was $1,500 less than it would be with last year's code I don't understand why others situations were way different
Comment from : @raiden031

My refund was $500 less, and I also claimed 0 exemptions The Billionaires all made out like Bandits, not so much for normal people
Comment from : @TheCointreaux

My income and jobs have fluctuated so much over the years that I have never really been able to tell what is "normal" for me or not I did end up with a refund and it was more than I was expecting it to be bc there have been a couple of times that I owed money But it also wasn't enough back this year that I am worried about changing my tax withholding
Comment from : @RachaelLyn

that's really good advice I owe every year too due to my side hussle I would rather be safe than sorry too
Comment from : @christettec3045

I needed this info desperately! Thank you so much Wendy!
Comment from : @qmakesithappen

Bummer for sure So sorry At least next year will be better
Comment from : @eileenpalumbo6578

First time in ten years I didn't owe money and got a refund! I am self employed as a home daycare provider and my husband works at a hotel
Comment from : @lisamalone5988

I am always afraid of this, so I use Circular E (Publication 15) to cross check if my employer is witholding the correct amount It is a valuable tool Just make sure you are looking at the correct year
Comment from : @Scruple_k

I noticed while doing my taxes on TuboTax this year, that when I entered in my donations, the refund increased
Comment from : @genealotech

Put some into your 401k to lower your taxable income Should we not be getting buckets of money from this magical tax cut?
Comment from : @libraryminnie7674

Which penalties did the IRS waive? I owed this year too with zero exemptions and the tax cap messed us up I hate this new tax plan
Comment from : @kamantha75

This was so helpful! I dropped my withholdings from 2 to 0 but I think we need to have them take out additional each month as well We had to pay $4300 this year because of Jaymes new job He also just got a $10k raise which has me concerned about his withholdings
Comment from : @freedominabudget

You claimed zero exemptions but no one could take any exemptions any more You got the child credit unless you made too much money So your only choice is to have more withheld I knew this from as soon as the new program was announced All God's childrens get zero exemptions I alway itemize because of extensive medical and etc that will exceed the standard deduction of $24,000 Exemptions are Gone Forever and negated the increased standard deductions People with children under 17 that don't make too much money are the only people this really helped and you can still deduct gambling losses not to exceed wins Boy am I glad I had tax withheld from all my jackpots I play the slots once or twice a year and had sbout 10 jackpots in 2018 I really don't want them since they count as income Just dumb luck I tried to warn as many people as I could on YouTube about the tax program and how it really was not beneficial especially to the middle class
Comment from : @celiagorleski2716

Yeah, we hire a CPA too It costs us around $160 as our taxes are really simple It’s worth every penny to have them do it so I don’t have to We usually break even and get a refund back from the state and owe about the same amount to Feds
Comment from : @TheDecoCottage

Here's to your first $100,000 from YouTube! 🍾🍾 😂😂
Comment from : @jeroen2500

Ouch And I thought we had it bad
Comment from : @WendyLitteral

I owed as much as you did I want the old tax plan back!!!! They take enough of my money as it is :-(
Comment from : @michellec9852

We always owe and this year we did not owe But last year my wife and I had an extra $100 bucks a month each taken out for taxes On top of starting and LLC which helped with deductions We decided to contribute to an IRA inorder to help with Taxes this year
Comment from : @solck7286

I really have to keep up with my taxes because I have an irregular income with my part time job I usually have to increase my withholdings at my full time job to cover taxes for my part time job It stinks, but like you said, I'd rather not owe!
Comment from : @simplifinance5154