Dramatically reducing your income is the most effective way to cut

Sign up, and you can customize which countdowns you see. Sign up

Report problem with this ad

May 26, 2015
7:38:48am

dilbert

Dramatically reducing your income is the most effective way to cut

your tax liability.

Report problem with this ad

dilbert

Bio page: dilbert
Joined: Oct 4, 2004
Last login: May 5, 2024
Total posts: 35,957 (16,559 FO)

Report problem with this ad

Messages

Author

Time

Any tax experts? There seems to be an income level where you just get shafted on

5/26/15 7:29am

What is your effective tax rate?

kccougar

5/26/15 7:34am

You should get $1000 per child no matter your income level. Also, why wouldn't

rggee

5/26/15 7:35am

I lied. It starts to phase out at $110K for married filing jointly

rggee

5/26/15 7:36am

And $160K for the student loan interest. If your AGI is above that, you are

rggee

5/26/15 7:38am

I got to deduct a whoppin 1.6% of my student loan interest this year. #soblessed

WDaddy

5/26/15 7:43am

Talk to a tax accountant. They can help. Worth the money.

WDaddy

5/26/15 7:36am

Dramatically reducing your income is the most effective way to cut

dilbert

5/26/15 7:38am

No credit for kid, medical expenses, or student loan interest? No offense, but

Mister P

5/26/15 7:38am

Possibly. But once you make too much, you don't get any of the freebies

slappy

5/26/15 7:42am

Welcome to AMT

workindev

5/26/15 7:43am

It sucks and is a desert wasteland. Makes it very hard to accumulate wealth

jota

5/26/15 11:29am

Tip: Don't hire Mister P as your accountant

jbcoug

5/26/15 7:45am

Welcome to the title of being "rich".

Acorn

5/26/15 7:39am

I just wish "richness" were determined by net worth, in which case we'd be poor.

5/26/15 7:50am

This is the problem. Everyone wants someone else to pay.

Acorn

5/26/15 7:57am

I have four siblings, and the ones with the highest net worth are also the ones

5/26/15 8:13am

Wow. Some good insight there

TNT

5/26/15 8:25am

Big thumbs up for the Elder Maxwel quote. I'd never heard that one. Thanks.

squidmark

5/26/15 8:42am

yeah....

Belboz

5/26/15 8:39am

You should get tax benefits from some of those items until you're at

hansel

5/26/15 7:39am

First world problem "I make too much money"

TeeKaa

5/26/15 7:41am

Paying the money isn't the worst...its having so many people whining for more

Fdnman

5/26/15 8:08am

Not to mention the sacrifices you made in your life to get to the point

kotacoug

5/26/15 8:37am

Once you hit 39.6%, tax credits are pretty much not an option

UbanUte

5/26/15 7:52am

TNT doesn't pay much

TNT

5/26/15 8:15am

^^^Claimed as a dependent on another tax return.

El Fuego

5/26/15 8:21am

How dare you. Ignored!

TNT

5/26/15 8:22am

What? Are you joking? No one claims TNT. Not even Cougarboard.

5/26/15 8:33am

Thank you. Hopefully Fuego learned his/her lesson

TNT

5/26/15 8:35am

Welcome to the 1% all the Libs talks about. Do you feel rich? Me neither.

fulano

5/26/15 8:23am

There are certain levels that tax deductions fade out. There are a number of

My Soapbox

5/26/15 8:47am

What the govt does to those like you truly upsets me.That said, there are some

Incentivize

5/26/15 9:04am

Dang. If only TNT owned real estate

TNT

5/26/15 9:20am

Report problem with this ad

Posting on CougarBoard

In order to post, you will need to either sign up or log in.

Report problem with this ad