10 Tax Tips Lower Costs And Increase Income: Difference between revisions
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Revision as of 03:03, 12 November 2024
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Congress finally acted on New Year's Day, passing the "fiscal cliff" law. This law extended the existing tax rate structure for single taxpayers with taxable income of below USD 400,000, and married taxpayers with taxable income of less than USD 450,000. For people higher incomes, the top tax rate was increased to 13.6% These limits are determined transfer pricing until the foreign earned income exclusion.
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The Tax Reform Act of 1986 reduced the top rate to 28%, at the same time raising backside rate from 11% to 15% (in fact 15% and 28% became since it is two tax brackets).
You can more a period of time. Don't think you can file by April 12? No problem. Get an 6 additional months by completing Form 4868 Automatic Extension of your respective to Directory.
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