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Revision as of 13:29, 16 August 2024

A disgruntled ex-employed call the state, reported my family's glass business for sales tax evasion. One of many local state sales tax auditors called plan some time to pore through our books.

Contributing an insurance deductible $1,000 will lower the taxable income of your $30,000 annually person from $20,650 to $19,650 and save taxes of $150 (=15% of $1000). For that $100,000 1 year person, his taxable income decreases from $90,650 to $89,650 and saves him $280 (=28% of $1000) - almost double the amount of!

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