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Latest revision as of 08:06, 12 November 2024

One more week until Tax Day. Have you filed yours yet? I haven't (probably should onboard that, actually), upkeep I read in USA Today that roughly 47% of Americans won't even need 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, exactly what is the point if half the damn country isn't going fork out up and log off scot-free?

My personal finances would be $117,589 adjusted gross income, itemized deductions of $19,349 and exemptions of $14,600, making my total taxable income $83,640. My total tax is $13,269, I have credits of $3099 making my total tax for 2010 $10,170. My increase for that 10-year plan would pay a visit to $18,357. For that class warfare that the politicians in order to use, I compare my finances towards median statistics. The median earner pays taxes of a couple.9% of their wages for the married example and a half dozen.3% for the single example. I pay 9.7% for my married income, could be 5.8% additional than the median example. For your 10 year plan those number would change to.2% for the married example, 11.4% for your single example, and 20.6% for me.

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Filing Necessities. It is important to learn what to report within tax give. Include the correct name, social security number, and mailing address on your return. If filing electronically include the routing and account number for each account in which you will use for direct deposit and payments.

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