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  1. geoffw

    Ouch - $30K being taxed and not much deductions to off set

    Not only is apportioning difficult- when you start to repay a single loan with mixed parts, the repayment may not be apportioned to the part of the loan you want it- that is, you may be repaying the non deductible part, which is not what you want.
  2. geoffw

    Ouch - $30K being taxed and not much deductions to off set

    There's another issue here. The OP probably didn't expect this big tax bill, so it may be hard to pay. It was an unplanned expense which will hurt his/her budget several. This can be a big problem working two jobs. The weekly withheld tax doesn't come anywhere near the tax which really needs...
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