The Tax Benefits Of Real Estate Investing: Difference between revisions
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Revision as of 03:44, 2 March 2025
Note: The article author is just not a CPA or tax quality. This article is for general information purposes, and will not be construed as tax professional guidance. Readers are strongly inspired to consult their tax professional regarding their personal tax situation.
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Now we calculate if you find any tax due. Assuming for now that nothing else income exists, we calculate taxable income using the take advantage of the business ($20,000) and subtract standard model 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 extra earnings tax due for lotto would be $1,099. So, the total tax bill for this taxpayer would be $1,099 + $3,060 for one total of $4,159.
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