Difference between revisions of "Can I Wipe Out Tax Debt In Liquidation"

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Latest revision as of 08:10, 23 January 2025

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Marginal tax rate could be the rate of tax fresh on your last (or highest) volume of income. In the earlier described example, the individual is being taxed with a marginal tax rate of 25% with taxable income of $45,000. This would mean she or he is paying 25% federal tax on her last dollars of income (more than $33,950).

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