Ours was a good news/bad news year.
Good news, our incomes went up. I got a nice raise from my company due to the corporate tax changes. Wife's went up substantially.
Bad news, I claimed married/1 all year, wife claimed married/0 all year. Her employer way under-withheld for some unknown reason and we're gonna wind up paying close to $4500, including a penalty. Our MAGI is too high so retirement deductions are limited.
But, it's way easier this year. The $24000 standard deduction is more than what we could've come up with in traditional deductions. We've adjusted withholdings already this year...not gonna get caught like that again.





Reply With Quote
