Any way to reduce tax owed?
Posted: Wed Mar 20, 2019 4:02 pm
Hello,
I just ran through numbers and it looks like I will owe taxes this year...I expected to owe since I had an early 401k withdrawal and all, so not shocked. However, my tax bill is still pretty high. I currently have an installment plan from 2017 taxes but I don't want to modify that by adding this in, since I'm afraid it could prompt a lock-in letter. I have enough where I can pay it off, but really just *BARELY* enough.
I'm wondering if going to a tax professional might be worth it...like can they find ways to reduce my tax bill that maybe I don't know about? Our taxes are pretty basic...we bought a first home in 2018 but there are no real breaks for that, so we don't itemize...we have a little student loan interest to deduct, as well as small amounts for charity and teacher expenses. So do you think there's something else out there, I should I just bite the bullet and file myself online?
I just ran through numbers and it looks like I will owe taxes this year...I expected to owe since I had an early 401k withdrawal and all, so not shocked. However, my tax bill is still pretty high. I currently have an installment plan from 2017 taxes but I don't want to modify that by adding this in, since I'm afraid it could prompt a lock-in letter. I have enough where I can pay it off, but really just *BARELY* enough.
I'm wondering if going to a tax professional might be worth it...like can they find ways to reduce my tax bill that maybe I don't know about? Our taxes are pretty basic...we bought a first home in 2018 but there are no real breaks for that, so we don't itemize...we have a little student loan interest to deduct, as well as small amounts for charity and teacher expenses. So do you think there's something else out there, I should I just bite the bullet and file myself online?