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How Does Tax Relief Work: Difference between revisions

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Latest revision as of 05:24, 23 October 2026


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Contributing an insurance deductible $1,000 will lower the taxable income for this $30,000 yearly person from $20,650 to $19,650 and save taxes of $150 (=15% of $1000). For the $100,000 per year person, anjing his taxable income decreases from $90,650 to $89,650 and saves him $280 (=28% of $1000) - almost double the! Large corporations use offshore tax shelters all period but they it legally. If they brought a tax auditor in and showed them everything they did, if the auditor was honest, he'd say it is perfectly acceptable.

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