Boo hoo for us, right?
Wages 347k + interest/dividends/CG 25k = AGI 372k
- itemized deductions: 24k - exemptions: 4k = 344k taxable income
Tax: 86k + AMT 1k + additional medicare tax 1k + net investment tax 1k
Total federal tax: 89k
We already max our 401ks, and our deductions are being phased out so more donations doesn't help. Having a kid this year also isn't likely to help much as that exemption is phased out for us too.
Wages 347k + interest/dividends/CG 25k = AGI 372k
- itemized deductions: 24k - exemptions: 4k = 344k taxable income
Tax: 86k + AMT 1k + additional medicare tax 1k + net investment tax 1k
Total federal tax: 89k
We already max our 401ks, and our deductions are being phased out so more donations doesn't help. Having a kid this year also isn't likely to help much as that exemption is phased out for us too.
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