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View Full Version : Screwing the DINKS



luvmylabs23139
01-27-2012, 09:48 AM
This is how much the Dinks pay for those that have kids:
Numbers run using standard deduction only.
This doe not account for any write offs such as child care. And who uses the Dept of ED?
MArried 2 kids :

Gross income$50,000Qualified plan contributions-$0Adjusted gross income=$50,000Standard/Itemized deductions-$11,600Personal exemptions-$14,800Taxable income=$23,600Tax liability before credits$2,690Child tax credits-$2,000Estimated tax liability=$690

Screwed DINK

Gross income$50,000Qualified plan contributions-$0Adjusted gross income=$50,000Standard/Itemized deductions-$11,600Personal exemptions-$7,400Taxable income=$31,000Tax liability before credits$3,800Child tax credits-$0Estimated tax liability=$3,800