How To Deal With Tax Preparation: Difference between revisions
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Latest revision as of 09:31, 5 February 2025
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Because from the increasing tax rate better brackets, a reduction of taxable income attending the higher bracket saves you more tax than exactly the same reduction at a lower range. So let's compare the tax saving of contributing $1000 by one person with a $30,000 income with what single person with a $100,000.
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This isn't to say, don't pay back. The point is there are consequences and factors you don't have fully thought about, especially for might go the bankruptcy route. Therefore, it is a good idea to debate any potential settlement in conjunction with your attorney and/or accountant, before agreeing to anything and sending for the reason check.
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