I am getting ready to rant about about AMT!! I truly hate AMT!!!! We are squeezing our funds down to the penny! We are doing the right thing by paying our bills on time, not using credit, saving for a rainy day, putting money aside for retirement and college educations. I received a pay raise last year at new job plus receive my military annuity pay (I recently retired from the military), and my DH was promoted to a higher military rank. All factors put our income at a higher tax bracket which means we owe IRS. (By no means we are not rich living on a military income!)
I am trying to look on the positive side of life because we are blessed to have paychecks. The good thing is that we are able to pay the money. We now are looking into reducing our pay deductions or pay quarterly estimated taxes for 2008. I really hate AMT!
Federal Taxes
March 17th, 2008 at 10:03 pm
March 17th, 2008 at 10:40 pm 1205793649
March 17th, 2008 at 10:56 pm 1205794582