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Revision as of 19:05, 5 January 2025

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Contributing an insurance deductible $1,000 will lower the taxable income within the $30,000 1 year person from $20,650 to $19,650 and save taxes of $150 (=15% of $1000). For the $100,000 each 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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Now, I'm hardly suggesting you exit and go for a life in criminal offence. Tax issues are minor in order to spending time in jail. Frankly, it is just not worth it, but it is at least somewhat as well as humorous discover how the government uses tax laws to go after illegal conduct.

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