Smart Taxes Saving Tips: Difference between revisions
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Revision as of 20:37, 4 October 2024
Note: Mcdougal is not CPA or tax technician. This article is for general information purposes, and should not be construed as tax professional guidance. Readers are strongly asked to consult their tax professional regarding their personal tax situation.
B) Interest earned, however not paid, during a bond year, must be accrued at the conclusion of the bond year and reported as taxable income for that calendar year in which your bond year ends.
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For example, most people will fall in the 25% federal tax rate, and let's guess that our state income tax rate is 3%. Delivers us a marginal tax rate of 28%. We subtract.28 from 1.00 permitting.72 or 72%. This means transfer pricing that your non-taxable price of 8.6% 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% may possibly preferable a new taxable rate of 5%.
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Another angle to consider: suppose your enterprise takes a loss for 12 months. As a C Corp there is no tax on the loss, however there can be no flow-through to the shareholders would seem an S Corp. The loss will not help your own tax return at many. A loss from an S Corp will reduce taxable income, provided there is other taxable income to reduce. If not, then is actually no taxes due.
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