Tax Rates Reflect Quality Of Life
190.00 ₦
Published date: 01/31/2025
- Location: 23816, Shungnak, Akwa Ibom State, United States
Each year there are record levels of people that do not file their income tax return. No matter if for non-filing vary from person to person but towards the IRS if you are required to file plus there is no excuse. If you receive a letter for non-filing here are a couple steps consider that enable you to you start the process.
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 allows you to under the marginal tax rate of 25%. Therefore the money you can save on personal exemption is $912.50 (calculation is simple: $3650 multiplied by 25%). For mom and her spouse, which is to be multiplied by two which save $1825.
Rule # 24 - Build massive passive income through your tax money savings.
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 allows you to under the marginal tax rate of 25%. Therefore the money you can save on personal exemption is $912.50 (calculation is simple: $3650 multiplied by 25%). For mom and her spouse, which is to be multiplied by two which save $1825.
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