I’ve been stuck in my taxes for the past 3 years because I don’t know how to adequately fix my situation. My first job pays $60k a year. My second paid me $22k this year but it was contract. I never know if I’m going to have it from one semester to the next. I teach at a college and sometimes I have 0 classes, sometimes I have 2 and that would be a $1,100 paycheck difference.
As an example:
- Spring semester I made $1,350 pre tax
- Summer semester I made $1,080 pre tax
- Fall semester I made $633 pre tax
What would you do here? Initially I took out an extra $30 a paycheck from my 1st job but that didn’t help much. Bumped it up to $50 a paycheck and still didn’t help much. Actually, it doubled from the year before in how much I owed.
With a second job like this, where I never know how much I’m going to make or not make, what do I do? I can’t really afford to have all of those taxes taken out of my 1st job if I’m not actually working the 2nd one.
Also, not sure how much it matters but we did buy a house this year back in March. I don’t know how much that’ll help me, if at all. The interest is still about $3-4k away from the standard deduction so…