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Revisión del 18:40 2 oct 2024
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Congress finally acted on New Year's Day, passing the "fiscal cliff" rule. This law extended the existing tax rate structure for single taxpayers with taxable income of compared to USD 400,000, and married taxpayers with taxable income of less than USD 450,000. For those with higher incomes, the top tax rate was increased to twenty.6% These limits are determined before a foreign earned income exemption.
Debt forgiveness, you see, is treated as taxable income. Why? In the nutshell, website marketing gives you money and you don't have to pay it back, it's taxable. Everybody else have to taxes on wages out of a job. The main reason that debt forgiveness is taxable is simply because otherwise, might create an enormous loophole on tax password. In theory, your boss could "lend" serious cash every 2 weeks, and the end of 12 months they could forgive it and none of it'll be taxable.
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