Difference between revisions of "10 Tax Tips Lower Costs And Increase Income"

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Latest revision as of 16:19, 29 July 2025


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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 under the marginal tax rate of 25%. The actual money it can save you on personal exemption is $912.50 (calculation is simple: $3650 multiplied by 25%). For everyone spouse, which are multiplied by two anyone save $1825.

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