Getting Huge Tax payments : personalfinance

Hello All, Thanks for all of your suggestion.

That is my present standing. A Couple and a child.

My wage with bonus and RSU are coming near 250-260k and My wifes is coming near 110k so mixed 370 to 380k seemingly improve by 3-4% yearly.

I’ve maxed out my 401k and HSA and my spouse nonetheless has some room for 401k to max out however is making near 10-14% on her 401k.

We’re paying about 14k for my child day care and saving round 6k per 12 months in 529 plan.

I set my allowance to zero in my paycheck and my spouse put in only one.

We’ve a rental property revenue and that is available in round 22k per 12 months.

Mortgages: I’ve a automotive mortgage of 60k and rental dwelling mortgage of 153k and no major mortgage as it’s paid off.

Whereas that is my present standing and I get an enormous tax fee for 14.5k this 12 months. I simply discovered that in my W4 despite the fact that I put married filling collectively I forgot to test I’ve different revenue that features my spouse’s wage which I simply corrected it.

I see following choices: Max out my spouse’s 401k and once I crossed 160k mark for SSN then SSN will not be taken out so I can use that as further tax withholding and pays about 5 – 6k over the interval of final 5 months. Is there another choice I’ve or have to begin withholding further taxes basing my 14.5k tax divide it by 26 and put that in my further withholding and pay small tax that I would get later when submitting on account of wage improve and add that up for future withholding.

Once more thanks for all of your suggestion.