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Reply to "Federal tax question - are we just in the spot that is really painful?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Yes - we do have kids. We claim childcare - but there is not a lot more for us. I guess I should not complain as the next area is medical - and we do not hit the 10% of AGI. For federal withholding, we each claim 0 deductions, and still had over 5K tax liability to the federal government. For this coming year, we adjusted to have more withheld so that we do not have that same size check that we need to cut next year. [/quote] We're in the same boat. 0 deductions and have to shell out 5K around tax time. We also have more money than we know what to do with because DCUM notwithstanding, 325K is a ton of money. [/quote] Here's a tip: withhold more.[/quote]
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