Dealing With Tax Problems: Easy As Pie: Difference between revisions
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Revision as of 23:29, 2 November 2026
Ask ten people a person's can discharge tax debts in bankruptcy and you get ten different answers. The correct answer will be the you can, but in the event that certain tests are met up. Remember, an individual exemption of $3650 is not deducted on tax but on your taxable income. Say for example your filing status is 'married filing jointly' with original taxable income of $100,000. This allows under the marginal tax rate of 25%. The actual money you'll save on personal exemption is $912.50 (calculation is simple: $3650 multiplied by 25%).
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