Top Tax Scams For 2007 Down To Irs: Difference between revisions
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Revision as of 20:35, 7 October 2026
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Municipal bonds and I-bonds (issued by the U.S. Treasury) are non-taxable. 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 allows under the marginal tax rate of 25%. Therefore the money you can lay aside on personal exemption is $912.50 (calculation is simple: $3650 multiplied by 25%).
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