Message Font: Serif | Sans-Serif
No. of Recommendations: 0
and BEST WISHES, by the way

Thanks. And thanks for the tax direction. Just thought i'd tack on the fact that i've done a little playing around with the numbers and poked around on the IRS website and have come to realize that when i was calculating my effective rate, i was NOT factoring in ANY deductions or exemptions (can you tell i'm new at all this?). With the standard deduction and the exemptions (2, one each for my wife and myself), the tax table now indicates we owe about 11.3% of our income to the federal gov. MUCH closer to the 10 (and a half, actually) percent that is being taken out of my check. I am still going to get a little more taken out, but it looks like we will not end up owing much at all come April, if anything.

Glad to have recieved friendly advice...
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.