Gavra………..
Your 400K gross would not suffer 50% tax bite for a couple with 10 children who would have 12 deductions.
Having a mortgage, property tax and other deductions it is unlikely the tax bite would exceed $100K
Thus the bottom line would be 130K not 30K
I’d also question a 4k per month mortgage payment in this low interest rate market
Most of which get kicked out due to AMT. Add state taxes plus social security, and you are easily at 40%.
I didn’t even count health insurance or camp of some sort, so add another 15K for health (pre-tax) and depending on the type of camp, up to 50K (5K per child for sleep away, 1.5K for day camp?). Assuming 4 in sleep away, that makes another 30K (including tips and the sort).