Am I paying way to much tax for my income bracket? on Yedda

Am I paying way to much tax for my income bracket?

My taxable income is 70,000. I take zero deductions on my W2, contribute 15% to my 401k and took about a $4,500 deduction on mortgage interest. I file for a single person. Thats it. When I calculated my tax liability for 2007 it works out that I have to pay $2000!! Surely, I must be doing something wrong... any advice?

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Christian

129 answers

65 thumbs up

I would get some professional advice. Perhaps getting some help from an accountant might sort things out for you.

Posted 5 months ago ( permalink )

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