Doing my taxes, I got new job half way through year didn't have them both at the same time. Made roughly the same total amount as last year.
>Enter first job
>"$1500 refund!"
>Enter second job
>$1100 refund!"
Explain this bullshit!? Why am I getting fucking less back when I put in the other job? Am I in a new tax bracket because I made a lousy $20,600?
Says I got $2,259 taxes withheld so shouldn't I get more back?
did you have more dependents on the second job? i did that once to keep more money and mine went down too.
>>1770064
You are actually taxed more for multiple jobs.
This is to disencourage the goy from "hustling" and making more money by working longer hours.
>>1770068
I have no dependents. It is saying I have about
$10,000 of dependent money though?
>>1770064
Your marginal tax rate bumps up from 10% to 15% at $9,275, so if your tax withholding percentage was the same at both jobs, this makes sense.
>>1770080
But like
JOB A: 11,000
JOB B: 9000
So when I put in just job A, I get 1500 back. Then when I enter job B that goes down to 1100.
Shouldn't it fucking go up to closer to $2000 refund?
This shit doesn't make sense.
>>1770083
Well, no because you're getting taxed at 10% on everything below $9,275 and then 15% for everything above that. So say both jobs were withholding 12.5% taxes. For the amount you earn under $9,275, you'd get a refund. For the amount you earn over that amount, you'd owe money. So when you input your second job, you're completely in that threshold where you owe money. I don't know what your tax withholding levels are, but the scenario I gave would conceptually fit your situation.
>>1770098
Actually, now that I think about it, the bigger factor is the personal exemption and standard deduction, which total $10,350 for 2016. This is an amount you can deduct from your taxable income if no one claims you as a dependent. So you had virtually no taxable income when you entered your first job because it was reduced by $10,350. Then when you added your second job, all of that income was taxable.
>>1770064
Adding that money puts you over the EIC limit