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Now, let's wait and watch if turn out to be whittle that down some whole lot. How about using some relevant breaks? Since two of your children are in college, let's imagine that one costs you $15 thousand in tuition. You will find tax credit called the Lifetime Learning Tax Credit -- worth up to 2 thousand dollars in scenario. Also, your other child may qualify for something named the Hope Tax Credit of $1,500. Physician tax professional for the most current great tips on these two tax snack bars. But assuming you qualify, that will reduce your bottom line tax liability by $3500. Since you owed 3300 dollars, your tax has grown to be zero greenbacks.

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