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2. Section 831 (b) - Wikipedia

   en.wikipedia.org/wiki/Section_831(b)

   [3] [4] In other words, the micro-captive's underwriting income – the difference between earned premiums and incurred losses – is exempt from federal income tax. [5] As of 2020, to qualify for 831(b) status, the insurance company's written premium income must not exceed $2.3 million in a given year, a threshold that is indexed for inflation .

3. Charitable contribution deductions in the United States

   en.wikipedia.org/wiki/Charitable_contribution...

   An organization must meet certain requirements set forth in the code. Some organizations must also file a request with the Internal Revenue Service to gain status as a tax-exempt non-profit charitable organization under section 501(c)(3) of the tax code. A non-exhaustive list of organizations that may meet the Federal requirements are as follows:

4. Income tax in the United States - Wikipedia

   en.wikipedia.org/wiki/Income_tax_in_the_United...

   Expenses incurred to produce tax exempt income and several other items are not deductible. [50] Home owners may deduct the amount of interest and property taxes paid on their principal and second homes. Local and state income taxes are deductible through the SALT deduction although this deduction is currently limited to $10,000. [51]

5. IRS announces new income tax brackets - AOL

   www.aol.com/irs-announces-income-tax-brackets...

   The US federal income tax code currently has seven tax rates – 10%, 12%, 22%, 24%, 32%, 35% and 37%. Each of those rates applies to a range of taxable income, also known as a tax bracket.

6. The IRS Is Letting You Keep More Money in 2023, Increasing ...

   www.aol.com/irs-letting-keep-more-money...

   The 12% tax bracket will apply to income over $11,000 for individuals and for couples making more than $22,000 — while the lowest bracket, with a 10% tax rate, will apply to income below these ...

7. Some might see a bigger 2024 tax refund after inflation ...

   www.aol.com/finance/might-see-bigger-2024-tax...

   The inflation-adjusted increases to certain tax credits, deductions, and tax brackets for next year could translate into larger tax refunds when folks file their taxes in 2024. ... Earned Income ...