The Hubbie and I (commonly known as Team Wilson) are not wealthy by any means. We work in fairly low-paying jobs (in the $10/hour range) despite our advanced college degrees. And yet, despite living paycheck to paycheck, we have managed to end up owing the government an additional $2,000 this year.
Here are 7 reasons why (my UNHappy List of the month).
1. Miniscule pay raise. I actually worked full time for the whole year and we earned a little more money since I wasn’t going to school. But that leads to #2.
2. No longer a student. Those tuition credits came in handy.
3. Debt Settlement = Taxable Income. So poor that I defaulted on a student loan and settled the debt for about 50% of what I owed. Turns out that counts as “taxable income.” Because that makes sense.