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Reply to "200k threshold: taxes?"
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[quote=Anonymous]This year we're going to make more than 200k. I've read several places that crossing the 200k line has an impact on taxes, what you can claim/receive, what's taken out, etc. I can't claim to understand this at all, I don't really understand taxes in general! What i'm wondering, is there anything we should do this year to avoid a painful tax season next year? This year we got about 1k state and 2k federal back; it didn't seem like we really benefitted much from the credits (child care, dependents). We do own our home, put money into 529s and retirement accounts (9% of my federal salary into TSP; about 6% of DHs salary into his state retirement account). Should we up the amounts taken out from our pay check? Put more into retirement? Any suggestions?[/quote]
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