For those who care (very few I would imagine), but thanks to the goodness of our President and government we have the child credit which keeps me (and many other with kids) from paying very little federal tax. I always had some round numbers in my head of what this equates out to, but I put a excel to work a little today and did a break even for my family situation with a standard deduction. The result shows that someone in my situation (i.e. 4 kids) can have box 1 of their w-2 show roughly 63K of income and not need 1 dime of federal taxes withheld from their paychecks. Now if you want to stick in your own facts figures, I can share this file with you through Google Docs & Spreadsheets, just need an email See below:
Now, don't get me wrong, this little bit does not come anywhere close to paying for those little darlings, but it sure does help.
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2 comments:
You have WAY too much time on your hands.
Perhaps your boss could dig up an audit for you in, say....Albany, GA?? That would keep you busy for awhile...
Too much time is strategically placing painted ladybugs in the grass for a picture for her blog. :) Lovin' Ya!
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