Paying Taxes Can Tax The Better Of Us: Difference between revisions
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Latest revision as of 12:16, 19 October 2026
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Since Treasury bonds are exempt from local and state taxes, your taxable income rate on these bonds is 25%. Contributing an insurance deductible $1,000 will lower the taxable income in the $30,000 yearly person from $20,650 to $19,650 and save taxes of $150 (=15% of $1000). For that $100,000 each year person, his taxable income decreases from $90,650 to $89,650 and saves him $280 (=28% of $1000) - almost double the! Back in 2008 I received a trip from girls teacher who had just adopted her tax assessment outcomes.
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