NEW YORK (Money Magazine) -- Q: My husband and I always seem to owe on our taxes. What can we do? -- J.B., Indianapolis
A: Assuming you have the correct amount of money withheld from your paycheck (use the withholding calculator at irs.gov to check), chances are you either have sizable investment income or you're getting hit with the alternative minimum tax (AMT), says New York City CPA Ryan Himmel.
If you get lots of income from interest, capital gains, and dividends, paying estimated quarterly taxes will at least prevent you from getting surprised in April.
If the AMT is the culprit, you have less wiggle room.
You could adjust your withholding, or bumping up your charitable contributions might help.
|What we want Apple to unveil at WWDC|
|Millennials squeezed out of buying a home|
|7 traits the rich have in common|
|Big Data knows you're sick, tired and depressed|
|Your car is a giant computer - and it can be hacked|
Carlos Rodriguez is trying to rid himself of $15,000 in credit card debt, while paying his mortgage and saving for his son's college education.
Susan Carson and Laura DeLallo make $225,000 and have half a million in retirement savings, but their sprawling portfolios is proving hard to manage.
|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||4.24%||4.20%|
|15 yr fixed||3.30%||3.18%|
|30 yr refi||4.22%||4.16%|
|15 yr refi||3.29%||3.17%|
Today's featured rates: