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Reply to "If you make 300K or more do you always end up writing 15-20k+ check to the IRS?"
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[quote=Anonymous][quote=Anonymous]I thought exemption was 1 per person, we are family of 4 and have about 30k mortgage interest deduction + 12k in real estate taxes.[/quote] It is not straightforward if you are a two-earner family with high incomes. It is straightforward if you are a one earner family. And, if you fall into AMT category then you deduction for real estate taxes (and state taxes) goes away. If you are making $300,000 a year and you can't figure out your withholding on your own, why don't you make an appointment and spend an hour with an accountant who can help you?[/quote]
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