Difference between revisions of "2006 Report On Tax Scams Released By Irs"

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Revision as of 21:13, 15 May 2026

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I was paid $78,064, which I'm taxed on for Social Security and Healthcare. I put $6,645.72 (8.5% of salary) to produce a 401k, making my federal income taxable earnings $64,744.

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This provides a combined total of $110,901, our itemized deductions of $19,349 and exemptions of $14,600 stay the same, giving us earnings taxable income of $76,952.

People hate paying fees. Tax avoidance strategies are entirely legal and must be taken advantage of. Tax evasion, however, isn't. Make sure you know where the fine lines are.

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