So I just plugged all our numbers into some of that fancy tax software, and the results are, well, enough to make me want to stop working so hard. Or at all.
The husband and I had slightly more taxable income in 2008 than 2007. For that we are grateful, especially in this time of financial distress for so many. But our owed tax is significantly more expensive in 2008 than 2007. Thanks to the AMT, 58% of our increase is owed as taxes. That’s MORE THAN HALF of our increase!
So why do I work so hard again?