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Revisión actual - 19:51 23 oct 2024

The old adage is crime doesn't pay, only one certainly can wonder sometimes about the truth of it given the volume of of politicians that find a way to be burglars! Regardless, the fact you might be making money from a criminal offense doesn't mean you you do not have to pay taxes. That's right. The IRS wants its unfair share of the ill gotten gains!

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Contributing a deductible $1,000 will lower the taxable income for this $30,000 per annum person from $20,650 to $19,650 and save taxes of $150 (=15% of $1000). For the $100,000 yr person, his taxable income decreases from $90,650 to $89,650 and saves him $280 (=28% of $1000) - almost double the amount of!

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