A Status For Taxes - Part 1: Difference between revisions
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Latest revision as of 18:58, 21 September 2024
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B) Interest earned, however it is not paid, during a bond year, must be accrued at the end of the bond year and reported as taxable income for your calendar year in which your bond year ends.
Example: Mary, an American citizen, is single and lives in Bermuda. She earns an income transfer pricing of $450,000. Part of Mary's income will be subject to U.S. income tax at the 39.6% tax rate.
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