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Revision as of 12:46, 17 September 2024

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For example, most people today will along with the 25% federal tax rate, and let's guess that our state income tax rate is 3%. Presents us a marginal tax rate of 28%. We subtract.28 from 1.00 generating.72 or 72%. This means that a non-taxable interest rate of 3.6% would be the same return as a taxable rate of 5%. That was derived by multiplying 5% by 72%. So any non-taxable return greater than 3.6% would be preferable any taxable rate of 5%.

While I can't tell you the specific impact that SBA debt forgiveness will placed on you, the idea of my article will be just to spot that loan forgiveness does potentially have tax consequences that a borrower glimpse into to be able can make the most informed decision possible.

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