A Very Good Taxes - Part 1: Difference between revisions

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Revision as of 15:57, 18 October 2026


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That's a huge sum which can drive for you to bankruptcy. anjing Now we calculate when there is any income tax due. Assuming for at the time that no income exists, we calculate taxable income getting the profit from the business ($20,000) and kontol subtract the actual deduction (which is $5,950 for 2012) less the exemption deduction (which is $3,800 for 2012). The taxable income would then be $20,000 - $5,950 - $3,800 which equals $10,250. Based on tax law the additional income tax due for responsibility would be $1,099.

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