Why You Can t Be Your Tax Preparer: Difference between revisions

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Revision as of 08:22, 7 January 2025

Ask ten people content articles can discharge tax debts in bankruptcy and great get ten different answers. The correct answer is that you can, but only if certain tests are pleased.

Contributing an insurance deductible $1,000 will lower the taxable income on the $30,000 1 year person from $20,650 to $19,650 and save taxes of $150 (=15% of $1000). For that $100,000 12 months person, his taxable income decreases from $90,650 to $89,650 and saves him $280 (=28% of $1000) - almost twice as much!

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