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

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Latest revision as of 15:53, 9 August 2025


Filing an income tax return is a task that rolls around once a year so keeping track of requirements and guidelines is key into a successful season. Whether you're just getting started or in the centre of the process the following are 10 things you require to know about property taxes.

Remember, a personal exemption of $3650 isn't 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 causes you to be under the marginal tax rate of 25%. Therefore the money you can save on personal exemption is $912.50 (calculation is simple: $3650 multiplied by 25%). For everyone spouse, that can be multiplied by two which means you save $1825.

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