Who here is good with taxes?

[Truth0225]

So I made 165k this year. And I let my job take out taxes every check? I paid like 45000 in taxes. Then I go to my CPA and he tells me I owe another 3500. I am single, don’t have any kids. Is there any way I can avoid paying this much? It’s horrible.

[ArrowheadSW]

First of all, review everything that has been plugged into the tax forms that your accountant prepared and check for errors!! There might not be any errors. It might just be what your tax burden is for the year. But definitely check for errors.

[Truth0225]

I do that every time before he submits but I’m looking for ways to minimize the tax burden. 45k is a shit ton of money.

[ArrowheadSW]

Oh yeah I hear ya for sure. Although that 45K is probably all taxes put together I'd imagine. Federal, State, Social Security, and FICA. Sounds about right if you're making 165K. What kind of work do you do to make that much at your age? I'd imagine you're into something medical related.

[Truth0225]

Yeah I’m a nurse. I do contracts where I go to different hospitals and fill their gaps because they are short staffed.

[gorydetails]

Yeah, you need to do things to reduce your tax burden. Put money in a 401k. 401k funds are pre-tax and reduce your taxable income. Buy a home. You can deduct the mortgage interest. Get married and have children. Donate to charity. Move to Florida with no state income taxes

If you work for yourself and can find a better accountant, they may be able to help ;)