Getting Gone Tax Debts In Bankruptcy: Difference between revisions
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Revision as of 01:51, 12 November 2024
A disgruntled ex-employed call the state, reported my family's glass business for sales tax evasion. Among the local state sales tax auditors called plan some time to pore through our books.
Remember, an individual exemption of $3650 is not deducted on tax but on your taxable income. Say for example your filing status is 'married filing jointly' with original taxable income of $100,000. This causes you to be under the marginal tax rate of 25%. The actual money you will save on personal exemption is $912.50 (calculation is simple: $3650 multiplied by 25%). For mom and her spouse, to be multiplied by two as well as save $1825.
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