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(Page créée avec « A credit is allowed for foreign income taxes paid or accrued. The credit is limited certain part of You.S. tax due to foreign source income. It's not refundable, but any excess credit could be carried to other years to reduce tax.<br><br>The role of the tax lawyer is to do something as a highly and rational middleman between you as well as the IRS. By middleman, though, this translates that he's upon side but he's not emotionally charged up so he just presents in... ») |
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Version actuelle datée du 10 novembre 2024 à 22:29
Note: The author is just not a CPA or tax quality. This article is for general information purposes, and will not be construed as tax advice. Readers are strongly encouraged to consult their tax professional regarding their personal tax situation.
What it is actually accepted as your 'income' tax has a set of tax brackets each featuring its own tax rate from 10% to 35% (2009). These rates are placed on your taxable income which is income a lot more your 'tax free' income source.
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For his 'payroll' tax as a staff he pays 7.65% of his $80,000 which is $6,120. His employer, though, must pay the same many.65% - another $6,120. So among the employee and also the employer, the fed gets 15.3% of his $80,000 which for you to $12,240. Keep in mind that an employee costs a manager his income plus 7.65% more.
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The great part could be the county is receiving their tax money present us with roads, fire and police departments, and so forth .. Whether they use domestic or foreign investor dollars, everyone win!