Note: The writer is not a CPA or tax technician. This article is for general information purposes, and will not be construed as tax professional guidance. Readers are strongly asked to consult their tax professional regarding their personal tax situation.
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If your salary is below $16,750 then you'll want to pay around 10% of revenue tax. More than you can be single person and living a bachelor life user profile have transfer pricing with regard to more interest as the limit get only $8,375. Thus husbands and wives are definitely in high profits.
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B) Interest earned, nevertheless paid, during a bond year, must be accrued at the end of the bond year and reported as taxable income for that calendar year in how the bond year ends.
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