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Revision as of 00:43, 8 October 2026

After all the festivities, laughter, and gift giving for this holidays, giggles and grins quickly meld into groans and glowers as Taxes Preparation Season rears its ugly face. From January 15th until April 15th, Americans fuss and fume about our ever increasing income taxes. Nevertheless, in an odd sort of way, some must love the gloom since they'll file for an extension, prolonging the agony of the inevitable.

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Using the same three examples the tax will likely be $4085 for the single, $1869 for the married, and $13,262 for me personally. Percentage of income would move to 8.2% for that single, 3.8% for the married, memek and 11.3% for me personally. Another angle to consider: suppose your business takes a loss for the age. As a C Corp there is no tax on the loss, however there one other no flow-through to the shareholders several an S Corp. The loss will not help your individual tax return at all.

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Are going to gets nasty, soon always be ex-spouses tend to be known to call the irs.

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