Graduation Honor Cords for all Ceremonies and Honor Societies Honor cords are an optional accessory that many schools use to set apart various participants in the graduation ceremony. Order cords for academic honors and for graduation officials.
One of the most common tax deductions for single mothers is the dependent exemption â $4,050 for each child until your child turns 19, or 24 if heâs a full time student. Whatâs especially nice is that you can take one exemption for yourself to cover your basic living expenses, thatâs $4,050 off your taxable income.
According to Mark Luscombe, a tax analyst for the firm CCH, that's a common scenario for high-earning, married couples. While Congress extended relief from the marriage penalty in the 10 and 15 percent tax brackets, those in higher tax brackets could still pay more. That means they could pay more than they would if they were single, earning the same amount. The more equal the two incomes are, the greater chance of a marriage penalty, explains Luscombe. Two incomes that would be taxed at 15 percent separately might together be taxed at 28 percent, for example.