Duggars and Taxes

[pega127]

I'm sure someone whom is better at math than I; can figure what JimBob's deductions are just for his children. I am curious. Love to see their actual tax return and how many "other" deductions are taken-must be a long list!

[hapamama]

If their income over $110,000/year, the child tax credits start to phase out, but for people who are married filing joint, the child tax credit is $1000/child 16 or younger.

[GeoBQn]

Has Josh paid his taxes yet for the past years he missed?

[salex]

I'm sure someone whom is better at math than I; can figure what JimBob's deductions are just for his children. I am curious. Love to see their actual tax return and how many "other" deductions are taken-must be a long list!

Per Turbo Tax, http://turbotax.intuit.com/tax-tools/ta ... 12053.html

In 2012, you can claim a $3,800 exemption for each qualifying child, To qualify for the exemption, the child must live with you more than half of the year and be under 19 at the end of the year, or under 24 and a full-time student for the year (defined as attending school for at least part of five calendar months during the year). . . .You and your spouse are also each entitled to a $3,800 personal exemption.

and

For a married couple with three children, the total exemption deduction for 2012 is $19,000 ($3,800 x 5). If the marginal income tax rate for this family is 25 percent, the five exemptions save $4,750 in taxes. . . . .Before 2010, higher-income taxpayers were subject to a phase-out rule that curtailed deductions for personal and dependent exemptions. That rule is gone for 2010, 2011 and 2012.

I wonder if mail order midwife counts as a student?

I wonder if the no social security card for my kids people also earn (or claim) so little income they are rarely taxed-- or if they declare themselves untaxable. I also wonder if part of the no medicine from a doctor trend is related to no social security number.

[gustava]

And College minus?

[nokidsmom]

And College minus?

Good question. Also, would they get the 1099Ts for College Minus as well?

[doggie]

And College minus?

it is not a school and not accredited right?

[lilwriter85]

From what I remember College Minus is a basically a CLEP test program. I don't see that being considered a school.

[snarkyjan]

From what I remember College Minus is a basically a CLEP test program. I don't see that being considered a school.

Except in the Duggars' primtive little minds.