Tax Made Easy - Why is My Refund Lower
Автор: Tax Made Easy
Загружено: 2023-01-12
Просмотров: 1
Описание:
Why is my tax refund less than last year?
If your tax refund this year is less than last year, you’re not alone. Several reasons why:
1. you received advanced child tax credit payments
2. your salary tax withholding is lower
3. you received unemployment benefits, but didn't withhold tax
4. same with #3, but it's your only income so you don't qualify for earned income credit
5. you don't qualify for earned income credit
6. you sell stock or real estate, which increase tax
7. you take early withdrawal from your retirement account
8. you reach a higher tax bracket
9. your filing status changed
10. your child turned 17 &
no longer qualifies you
for child tax credit
9. you have 1099-NEC or 1099-misc income with no tax withheld
10. you have gambling winnings with No tax withheld
11. you didn't contribute to traditional ira, or you contributed but can't deduct it because your income is too high
12. you paid off your mortgage & can no longer deduct mortgage interest
13. same as above, but with student loan
14. you have 1099-NEC or 1099-misc income with no tax withheld
15. you have gambling winnings with No tax withheld
Note: this video is made for tax year 2022
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