Saturday, December 17, 2011

Am I paying too much in taxes???

My income is ~63k and I paid $8500 in federal taxes. So that adds up to ~ 13.5% of my income going to federal taxes. Which is fine...I have 3 exemptions (for some reason my exemptions is 3 but I have no dependents). But my refund after filing taxes is only ~$300 after filing through turbo tax online? I don't have any deductions or credit to claim so I was thinking this is reasonable? But seems like everyone around is me is getting large refunds. There is no state income tax here in Texas.

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