No income tax refund for us

After writing about my financial vulnerability and anxiety in the past couple of days, I so wanted to write something positive and hopeful like rainbows and unicorns.  I should’ve written something on this blog before doing my taxes to have some pleasant things to say.  It’s obvious we have to pay.  I was looking forward to paying our student loans down, but that won’t be happening.

Our last year income didn’t change much since the year before last year and only difference is my hubby starting school.  We only paid around $50 to Fed last year, but this year, we have to pay several thousand.  Is that right?  We haven’t sent the finished taxes yet to look it over in a couple of days again in case the figure miraculously changes to a positive refund number (I’m not holding my breath).

Well, I know we have to pay and I feel defeated.  I got my budget, goals, and this blog and I was starting to feel like I was heading the right direction.  But this kind of pulls me down.  Okay, let’s keep my chin up and march forward.  This might set us back a little, I mean a quite a bit, but that’s okay.  Things happen in life and we still have jobs, health, roof over our head, and plenty of food on the table.

I do have one question though.  Does this mean we have to have additional amount to be withheld for federal tax?    

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2 thoughts on “No income tax refund for us

  1. That’s a really big difference between last year and this year, sorry to hear. I’m not really knowledgeable with taxes so I can’t offer any input, but did withholdings change between last year and this year? I would think your hubby being a student might give a tax kickback, but I guess not? Regardless, if you do end up paying, definitely keep your head up! It’s just a setback in the bigger scheme of things hopefully!

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