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Revision as of 17:47, 16 October 2024

Once upon a time, you were married several man using a good post. One day he was terminated, got a hefty settlement, and later divorced any person. Then you remember you filed for that joint tax return in that very 2010. Curse him if you want, but don't worry about taxes, seeing be avenged with a tax help with your debt.

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Contributing a deductible $1,000 will lower the taxable income from the $30,000 per annum person from $20,650 to $19,650 and save taxes of $150 (=15% of $1000). For that $100,000 annually person, his taxable income decreases from $90,650 to $89,650 and saves him $280 (=28% of $1000) - almost double the amount!

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Defenders for this IRS position would say it returns to Section 61. The waitress provided a service for me, and I paid for the product. Compensation for services is taxable. End of adventure.

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