Quote:
Originally Posted by The12thMan";p="
Raytri, what your income will get you is ZERO in college tuition tax credits - no matter how many kids you have in college. Betcha didn't know that.
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I've suspected as much. Which is why one of the things we're going to be doing with my wife's income is chunking an ungodly amount of money into our kids' 529 plans and our own 401(k)s. Not only does that save money for college and retirement -- it reduces our taxable gross income, possibly letting us both avoid AMT and qualify for various tax credits.
Luckily my kids are three years apart, so assuming I can frog-march them through college in four years we'll only have one year where we're paying for two of them.