Tuesday, November 2, 2010

Tax Code Fun and anti-nausea med

Here's the paragraph that I read Monday in class that, in my slightly hysterical, sleep deprived, extra stress state of mind, made me nearly both laugh aloud and bang my head upon my book.

Itemized Deduction Limitation
If a taxpayer's AGI (Adjusted Gross Income) exceeds $166,800 ($83,400 if married filing separately), his itemized deductions may be limited. In such a case, total itemized deductions are reduced by 2/3 of 3% of the amount by which his AGI exceeds $166,800 ($83,400). Itemized deductions will never be reduced by more than 80% of the amount by which they exceed the taxpayer's medical expenses, investment interest, non-business casualty and theft losses, gambling losses and certain charitable contributions.

Did you catch all that?! Did your calculator start to smoke?

In other news, the doctor gave me a prescription for an anti-nausea medicine! I hadn't even thought about asking for that! Basically because the old drugs would just knock you out. It's hard to feel nauseous when you're unconscious. But this one is supposed to be different. Key words being supposed to be. I'll try it soon on some morning when I don't need all mental pistons firing.

1 comment:

  1. Umm. Isn't 2/3 of 3% the same as 2%? Our tax code is ridiculous. Down with the income tax! Switch to sales tax!