jazz4cash
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Some may find this info useful for dependent educational expense planning.
We skipped FAFSA last year, but I decided to do it for 2012-13 and the outcome was higher than expected, but it's been many years since we only had one student.
SS/Medicare ....................5.6
State Local Income........... 6.1
Federal Income ...............12.0
Total Taxes.................... 23.7
FAFSA Estimate
EFC ..............................26.5
We skipped FAFSA last year, but I decided to do it for 2012-13 and the outcome was higher than expected, but it's been many years since we only had one student.
- 25% marginal bracket
- No substantial savings outside of tax deferreed accounts.
- Family of 4 w/ one student
- Gross Income = AGI + 401k contributions
- EFC=Expected Family Contribution
SS/Medicare ....................5.6
State Local Income........... 6.1
Federal Income ...............12.0
Total Taxes.................... 23.7
FAFSA Estimate
EFC ..............................26.5
