21.00 Dollar US$ How To Prevent Offshore Tax Evasion - A 3 Step Test Lipscomb
- Location: 6640, Lipscomb, South Dakota, United States
A disgruntled ex-employed call the state, reported my family's glass business for sales tax evasion. One of many local state florida sales tax auditors called plan some time to pore through our books.
Now we calculate if you have any tax due. Assuming for in the event that that few other income exists, we calculate taxable income using the profit from the business ($20,000) and subtract common deduction (which is $5,950 for 2012) less the exemption deduction (which is $3,800 for 2012). The taxable income would then be $20,000 - $5,950 - $3,800 which equals $10,250. Based on tax law the additional income tax due for responsibility would be $1,099. So, the total tax bill for this taxpayer would definitely be $1,099 + $3,060 with regard to total of $4,159.
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