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Latest revision as of 12:40, 23 January 2025

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The IRS has set many tax deductions and benefits into position for taxpayers. Unfortunately, some taxpayers who bring home a great deal of income can see these benefits phased out as their income ascends.

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If you claim 5 personal exemptions, your taxable income is reduced another $15 thousand to $23,500. Your income tax bill is huge approximately 3,000 dollars.

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