Tuesday, January 1, 2008

The "Loss" Of The Tax Break

Ladies and Gentlemen,

Today we mourn not just the loss* of the potential tax deduction Stef and I could have claimed on our 2007 taxes, but also the never-ending source of conversation having a child on the last day of the year would have brought us. Also, there was a neat onesie that said "Tax Break" I was totally going to get for the Monster, but since he's late it doesn't make much sense.

* Yes, we know, a "qualifying child" is from birth to 17 years. So if we had gotten the 2007 deduction we would have been unable to claim the 2024 deduction. But, first off, we hopefully won't need the deduction in '24, and more'n likely we won't qualify for it even if we did thanks to our potential salaries (note: not complaining about that!). Secondly, pointing out how the deduction actually works is less funny than, you know, talking about how much we love our little Tax Break. That's the sad part.

PS - Happy New Years!

2 comments:

eileen said...

If it makes you feel better, you actually missed out on an *exemption* and a separate *credit*, rather than a deduction:)

Marcus said...

Eileen,

I know, I know. I took tax law, right? But I was writing this post in the hospital on about two hours of sleep.

Also - it does NOT make me feel better.