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2. Deduct Business Expenses. If you run a business, you might reap big tax benefits. Business owners who are filing taxes can claim potential tax deductions for some business expenses, including ...
Be Aware: 7 Tax Loopholes the Rich Use To Pay Less and Build More Wealth. ... USA TODAY. Did New Orleans attack suspect act alone? Authorities conduct an urgent search. Sports. Sports.
2. 15 Days of Free Rental Income The IRS allows you to rent out your home for up to 15 days without having to pay taxes on the income you earn from that rental.
But if this income comes in the form of a capital gain, you’d pay only $23,800 in federal income tax, or $100,000 times the 20% capital gains tax rate plus the 3.8% net investment income tax for ...
If your child is under 18 and your business is a partnership or sole proprietorship, you don’t have to pay Social Security or Medicare taxes. Additionally, your child’s income won’t be taxed ...
Tax avoidance strategies aren’t solely for the rich -- plenty of tax deductions and credits are available for middle -- and low-income taxpayers, too. 10 tax loopholes that could save you ...
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Using tax avoidance strategies isn’t solely for the wealthy -- tons of tax credits and deductions are available for middle- and low-income taxpayers, too. 10 tax loopholes that could save you ...