Declaring Bankruptcy When Will Owe Irs Taxes Owed: Difference between revisions
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Revision as of 09:05, 22 September 2024
One more week until Tax Daytime. Have you filed yours yet? I haven't (probably should get on that, actually), while using the I read in USA Today that roughly 47% of Americans won't even have to worry about paying federal income taxes, I start to wonder if I would even bother. Oh sure, there's the threat of prison time for tax evasion, but really, what's the point if half the damn country isn't going to up and leave scot-free?
There's a positive change between, "gross income," and "taxable income." Revenues is what amount you even make. taxable income is what federal government bases their taxes in. There are plenty of a person can subtract from your gross income to provide you a lower taxable income. For most people, the name of the game is to purchase and use as many of those as possible, so you can minimize your tax your exposure.
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