Homestead mailing list

[Gene GeRue <genegerue AT ruralize.com>]

> Specifically, a married couple filing jointly has a standard deduction of
> $10,000 and an exemption for each of them of $3,200.  So they don't pay 
> income tax on at least the first $16,400 of income.  Of course there's 
> also a $3,200 exemption for each dependent besided themselves, such as 
> their children.  The tax tables are for the amounts ABOVE the standard 
> deduction and all exemptions.

I feel much better knowing that. Thank you. I just looked at tax tables. 
Sixteen four is livable in a rural place with low property taxes. 
Thirty-two hundred per child! Used to be six hundred when I was raising 
mine. Surprised our population is not growing even faster. The Mennonites 
and the Mexicans must be very happy about this.