(no subject)
Today at work, I was working on a projection (it's where you project the amount of tax that will be owed for the year) for this young couple...and by young I mean they are both 33. In 2003, their combined income was $720,000. In 2004, they are projecting to make $780,000. When I projected how much tax they will owe for 2004, it comes out to approximately the same amount they owed in 2003. Now I ask you, how is it that someone who makes that much money can increase their income by $60,000 and not owe additional tax?