A Reputation Of Taxes - Part 1: Difference between revisions
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Revision as of 13:02, 7 January 2025
The old adage is crime doesn't pay, but one certainly can wonder sometimes about the precision of it given the number of politicians that frequently be baddies! Regardless, the fact you are making money from a crime doesn't mean you wouldn't have to pay taxes. That's right. The IRS wants its unfair share of your ill gotten gains!
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If purchase a national muni bond fund your interest income will be free of federal taxes (but not state income taxes). In buy a state muni bond fund that owns bonds from the house state this interest income will be "double-tax free" for both federal while stating transfer pricing income value-added tax.
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If you claim 5 personal exemptions, your taxable income is reduced another $15 thousand to $23,500. Your income tax bill is destined to be approximately 3200 dollars.
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