Although, IRS has publicly stated that they will not audit anyone who's tax liability is less than $100k, so it's free season to lie on your returns.
You mean not gross income, but 30-whatever% (progressive formula, etc) < $100k, right?
Taxable income.
That's your AGI less itemized/standard deductions less non-refundable credits plus additional specialized taxes (household employee/Obamacare/Medicare/IRA distribution penalties/individual mandate/so on).
If your total tax is less than $100k, IRS specifically stated that they will not audit you.
Although, IRS has publicly stated that they will not audit anyone who's tax liability is less than $100k, so it's free season to lie on your returns.
You mean not gross income, but 30-whatever% (progressive formula, etc) < $100k, right?
Taxable income.
That's your AGI less itemized/standard deductions less non-refundable credits plus additional specialized taxes (household employee/Obamacare/Medicare/IRA distribution penalties/individual mandate/so on).
If your total tax is less than $100k, IRS specifically stated that they will not audit you.
***, well good to know anyway. I'll have to make sure I don't make more than that for the year. Maybe I'll take a month or two off, that should do it, I think.
I'll get some people on top of that in China and let them take care of it. Ain't nobody got time for that.
Now I have to worry about making too much money, woe is me! :(
Although, IRS has publicly stated that they will not audit anyone who's tax liability is less than $100k, so it's free season to lie on your returns.
You mean not gross income, but 30-whatever% (progressive formula, etc) < $100k, right?
Taxable income.
That's your AGI less itemized/standard deductions less non-refundable credits plus additional specialized taxes (household employee/Obamacare/Medicare/IRA distribution penalties/individual mandate/so on).
If your total tax is less than $100k, IRS specifically stated that they will not audit you.
***, well good to know anyway. I'll have to make sure I don't make more than that for the year. Maybe I'll take a month or two off, that should do it, I think.
I'll get some people on top of that in China and let them take care of it. Ain't nobody got time for that.
Now I have to worry about making too much money, woe is me! :(
Although, IRS has publicly stated that they will not audit anyone who's tax liability is less than $100k, so it's free season to lie on your returns.
You mean not gross income, but 30-whatever% (progressive formula, etc) < $100k, right?
Taxable income.
That's your AGI less itemized/standard deductions less non-refundable credits plus additional specialized taxes (household employee/Obamacare/Medicare/IRA distribution penalties/individual mandate/so on).
If your total tax is less than $100k, IRS specifically stated that they will not audit you.
***, well good to know anyway. I'll have to make sure I don't make more than that for the year. Maybe I'll take a month or two off, that should do it, I think.
I'll get some people on top of that in China and let them take care of it. Ain't nobody got time for that.
Now I have to worry about making too much money, woe is me! :(
This is a thread that I found on another website I post at. It can be really really interesting. I thought it deserved a place here.
Post your random thoughts for the day here, or anything else that intrigues you.
For starters, is it possible to give constructive critism to someone who doesn't have a neck? I totally just walked by a girl who didn't. Someone isn't getting a necklace for Valentines day!
And who decided black and white can't be colors? I want to say a racist. I really do.