Taxes and Student loans. How many exemptions should I have?
I am planning to pay off an huge chunk of my students loans this year by using about half of my salary. If half of what I am making (around 60k) is going to pay these loans how does that effect my taxes at the end of the year? Would they essentially cancel them out? And if so, should I max out my exemptions. I live in Illinois.
Thanks!
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