How much do you owe in taxes this year? Last year I got a good refund (I always declare no dependents as a safety net) but I just got off the phone with my tax accountant in New Jersey and found out under the new tax rules, I owe almost $8000! What the heck is happening?
Somehow this has to be a mistake. I had heard it was going to be bad for people in states with higher real estate taxes, like New York, New Jersey and california, but this is terrible. I thought one of the key reasons to own a home was for the tax benefits? I am going to have to dip into a Home Equity LOC just to make this payment. Is anyone else experiencing this?