Tax question

[MikesToy]

Why is it single ppl always have to pay more? Let the flamings begin! :zoom:

 

[Uneek]

Haha, go father a few kids and you'll have dependents to claim exemptions for the next 18yrs. Currently, it's $3650 for each exemption. And if you have a lot kids, heck Uncle Sam might even pay you. :naughty:

 

[borgzman]

Also $11,400 standard deduction for married couple filing jointly.
april-15-closer-than-you-think: Personal Finance News from Yahoo! Finance

 

[techno]

Single people have wider tax brackets than married people which means you can pay less tax for the same level of income.

Perhaps you've been listening to H&R Block, the worst tax prep crowd I've ever dealt with...

 

[MikesToy]

i don't why merried w/ children get thousands of dollars and i don't get squat.

 

[Uneek]

i don't why merried w/ children get thousands of dollars and i don't get squat.

If you can't beat them, join them. :hatsoff:

$3500 exemption today and counting for the next 18 years.

 

[rook]

Why is it single ppl always have to pay more? Let the flamings begin! :zoom:

because someone has to pay for this hopey-changey thing he's been pimpin'


all kidding aside, start planning on reducing your taxable income.
-charitable donations (with receipt)
-retirement contributions
-certain work-related expenses

its tough when you are single, but wait 'till you buy a house and fill it with kids... then you REALLY need the deductions.

 

[MikesToy]

i thought i was saving the earth for not having kids. :wtf: