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Fundamental tax on those is $3,133 for the single example and $1,433 for the married as an example. To cover the deficit and debt in 10 years it would increase to $4,506 for the single and $2,061 for your married. Check out deductions and credits. Develop a list for the deductions and credits that you could be entitled to as parent or head of household. Keep in mind that some tax cuts require children always be a certain age or at a specific number of years enrolled in college.

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