Comin’ at stuff from both ways
Because I heard about it over and over, on radio and TV, I went and checked out this site:    http://alchemytoday.com/obamataxcut/ and keyed in that Pop and I file as Married for our taxes (because we are) and claim no additional dependents other than us two. Even though I’ve got kids swarming over me like ants on a wet lollipop, I can’t claim any of them tax-wise. I selected the range that I thought would be our annual AGI, based on what it’s been for the last several years.
Eureka!!! With Obama’s plan, I’ll owe just under a thousand dollars LESS!! Now I always have more withheld from my paychecks than I need to, and over the course of the months, that amount builds up to a tidy refund. And all those years of Accounting classes still reverberate in my head because there’s a lot of empty space in there and I know that letting “Uncle Sam” hold my money all year interest-free isn’t the smartest financial move.  Still, I live in fear since that year I had to borrow money from church mice to pay off the tax bill, and then give up groceries to pay it back. For years, I could claim one dependant son at university, file as Head of Household, and deduct educational costs. Damn kid graduated (as expected), I lost all those “benefits” all at once and my taxes soared (as would/should have been expected by someone with the power of doing basic math and the sense to use it).  I got slammed, and was unprepared. Ever since, I’ve been rather gun-shy!
Anyway, getting almost a thousand dollars more in refund certainly has appeal!   HELLO?????   Who wouldn’t rather keep an extra thousand in their own pocket?
But Mom always taught us, “If it sounds too good to be true……..” and I’m wondering. Usually there’s a price on everything. What’s the price here? And who’s gonna pay it?
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