Don t Panic If Taxes Department Raids You: Difference between revisions
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Revision as of 08:46, 12 November 2024
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Because belonging to the increasing tax rate better brackets, a reduction of taxable income attending a higher bracket saves you more tax than pertaining to reduction at a very lower range. So let's compare the tax saving of contributing $1000 by a single person with a $30,000 income with that of a single person with a $100,000.
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