Difference between revisions of "History Among The Federal Tax"

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Revision as of 08:23, 22 September 2024

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Example: Mary, an American citizen, is single and lives in Bermuda. She earns an income of $450,000. Part of Mary's income will be subject to U.S. taxes at the 39.6% tax rate.

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Another angle to consider: suppose your business takes a loss for 12 months. As a C Corp as a no tax on the loss, however there additionally no flow-through to the shareholders the problem an S Corp. The loss will not help your personal personal tax return at nearly all. A loss from an S Corp will reduce taxable income, provided there is other taxable income to shrink. If not, then an incredibly real no tax due.

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