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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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78 thumbs up

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


Posted 8 months ago ( permalink )
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Christian was invited by Yedda to answer this question.

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