Thanks for the info. The reason why I asked is that I think I'm pretty much doing everything I can for us (wife and I) both being a w-2 wage slave. I was just double check with you guys if you had any other experience that you wouldn't mind sharing.
We're pretty much maxxed out on all the pre-tax deductions, and the itemized things include the standard mortage/property tax/donations stuff we normally do. We haven't setup a business to be able to take more deductions there, but this will change this year 🙂
In 2006, i think our effective federal rate was about 12-13% (maybe I'm off a bit, don't remember exactly), though it could have been lower if we didn't get hit with AMT. We've been getting hit with AMT, even though we don't have any weird situation from ISO stock option sales. i hope somehow this year AMT isn't going to be an issue. I'm just wondering if there are additional things we can do to get into the 10% or lower fed range. But thanks for everyone's input.
I think this year, I need a new accountant as my taxes will probably get more complicated. If anyone got one they can recommend, I'd appreciate a lead.
