Tax Rates Reflect Standard Of Living: Difference between revisions
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Revision as of 06:39, 1 November 2024
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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 under the marginal tax rate of 25%. Therefore the money you save on personal exemption is $912.50 (calculation is simple: $3650 multiplied by 25%). For mom and her spouse, which are multiplied by two which means you save $1825.
No Fraud - Your tax debt cannot be related to fraud, to wit, you'll want to owe back taxes a person failed expend them, not because you played funny on your tax come home.
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