Chuck52
Veteran Member
Since someone else brought up equipment depreciation in another thread, I thought I'd open it up for a general discussion of some of the neat rules we all live or die by, thanks to the IRS. I'd like to start with the one that snuck up and bit me this year.
We're in the process of becoming empty nesters....the last one goes off to college this fall. We've been losing deductions over the last few years and having fun trying to keep witholding somewhere close to what Uncle Sugar thinks we owe him for all the goodies we get./w3tcompact/icons/smile.gif So there I am a couple weeks ago, filling out the dreaded forms and feeling a bit optimistic because of higher interest paid on the new property when <font color=red>ZAP</font color=red> , I suddenly realise my last baby turned 17 in August and the nice extra $600 child credit no longer applies. Now, I know, it's right there in black and white, or whatever colors the $^%& thing happens to be printed in, but I guess it's just the total lack of logic about that rule that got me. I mean <font color=red>why 17?</font color=red> Does anyone anywhere really believe a kid is cheaper to keep at 17 than at 16? What happens magically at 17, besides this tax thing anyway? They start driving at 16. Most graduate from highschool at about 18. At 17, most of them are still with us old folks. Did some committee get together, half of whom wanted 16 and half wanting 18, so they compromised? Or did they all just bend over, reach into their collective nether regions, and pull 17 out?
Anyone else got one?
Chuck
We're in the process of becoming empty nesters....the last one goes off to college this fall. We've been losing deductions over the last few years and having fun trying to keep witholding somewhere close to what Uncle Sugar thinks we owe him for all the goodies we get./w3tcompact/icons/smile.gif So there I am a couple weeks ago, filling out the dreaded forms and feeling a bit optimistic because of higher interest paid on the new property when <font color=red>ZAP</font color=red> , I suddenly realise my last baby turned 17 in August and the nice extra $600 child credit no longer applies. Now, I know, it's right there in black and white, or whatever colors the $^%& thing happens to be printed in, but I guess it's just the total lack of logic about that rule that got me. I mean <font color=red>why 17?</font color=red> Does anyone anywhere really believe a kid is cheaper to keep at 17 than at 16? What happens magically at 17, besides this tax thing anyway? They start driving at 16. Most graduate from highschool at about 18. At 17, most of them are still with us old folks. Did some committee get together, half of whom wanted 16 and half wanting 18, so they compromised? Or did they all just bend over, reach into their collective nether regions, and pull 17 out?
Anyone else got one?
Chuck
