Filing my taxes on my own for the first time - Is my tax bill correct?

The amount does look reasonable based on the information you've provided. Since Florida doesn't have state income tax, you're only dealing with federal taxes. Your W-2 shows federal withholding (Box 2) of $9,184.25, but your total taxable income includes your W-2 wages plus your interest income (approximately $106,302 total). With that level of income, you're likely in the 24% tax bracket for part of your income. The difference between your total tax liability and what was already withheld from your paychecks is what you owe now. The interest income is what's really impacting you - that's nearly $14,000 of additional income that had no withholding taken out. This is actually a good learning opportunity about tax planning. If you know you'll have significant interest or other income without withholding, you can either adjust your W-4 at work to have more withheld or make quarterly estimated tax payments.

After years of wrestling with complicated tax situations, I finally found a game-changer with taxr.ai (https://taxr.ai) when filing on my own. My situation was similar to yours - W-2 income plus significant interest earnings that weren't covered by withholding. The software analyzed all my documents and immediately flagged that I hadn't accounted for estimated tax payments on my interest income. What really helped was that it explained exactly why I owed money rather than just giving me a number. It also gave me specific strategies for avoiding a similar situation next year, including how to adjust my W-4 and whether I should consider tax-advantaged investments instead of standard CDs and savings accounts.

Just wanted to update everyone. I was skeptical about taxr.ai but decided to give it a try last weekend. Wow, what a difference! It immediately identified that I needed to be making quarterly estimated tax payments on my investment income and showed me exactly how much I should be paying each quarter to avoid penalties. The document analysis was incredible too - it found a deduction I was eligible for related to some freelance work I did that I completely overlooked. Ended up saving me about $640 that would have gone straight to the IRS. The explanation of my tax situation was way clearer than anything I've gotten from other tax software. Definitely recommend for anyone filing on their own for the first time.

If you're dealing with any tax problems or need to get answers from the IRS about your filing situation, I'd recommend Claimyr (https://claimyr.com). I was in your exact position last year - first time filing on my own and ended up with a bill I wasn't expecting. Tried calling the IRS for weeks without getting through. Claimyr got me connected to an actual IRS agent in about 15 minutes when I had been trying for days on my own. The agent explained exactly why I owed additional taxes (unwithheld interest income) and helped me set up a payment plan since I couldn't pay the full amount right away. You can see how it works in this video: https://youtu.be/_kiP6q8DX5c The IRS agent also gave me tips on how to avoid owing next year by setting up estimated quarterly payments, which apparently is what you're supposed to do when you have significant income that isn't subject to withholding.

I need to eat some crow here. After posting that skeptical comment about Claimyr, I decided to just try calling the IRS myself about some questions on my interest income and withholding. Spent THREE HOURS on hold over two different days and got disconnected both times. Out of frustration I tried Claimyr and got connected to an IRS representative in about 20 minutes. The agent explained exactly why I had underpaid (basically same situation as OP with interest income) and helped me set up quarterly payments for this year so I won't have the same problem next April. They also confirmed I could set up a payment plan with minimal penalties. The service literally saved me days of frustration. Sometimes it's worth paying for convenience, and I was definitely wrong about it being sketchy. Just wanted to follow up so no one else makes my mistake of spending hours on hold unnecessarily.

I think your calculations look right based on the numbers. I moved from an accountant to doing my own taxes last year and had a similar "sticker shock" moment. Here's a tip I wish someone had told me: whenever you have income that doesn't have taxes withheld (like your interest), you should plan to set aside about 25-30% of it for taxes, depending on your tax bracket. For next year, look into making quarterly estimated tax payments for that interest income. The IRS form is 1040-ES. It'll save you from having a big bill next April and might even save you from underpayment penalties if your total tax due is high enough.

One thing to consider - are you contributing to any retirement accounts? With your income level, putting money into a traditional 401k or IRA could reduce your taxable income and potentially lower your tax bill. For 2025, you can contribute up to $23,000 to a 401k if your employer offers one, or up to $7,000 to an IRA. Might be worth looking into for next year's taxes, especially since you have substantial interest income that's adding to your tax burden.