Sky Marchini 3 days ago
lets say you have a family of four making $85,000 on a w2 (no other income). Married filing jointly standard deduction is $29,200, meaning taxable income 55,800, fed tax on which is $6235.
Tiny Timmy gets sick, you deduct an addt'l $25k, new taxable $30,800, tax on which is $3235.
add a skeleton here at some point