The Tax Benefits Of Real Estate Investing: Difference between revisions

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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%. Therefore the money you can save on personal exemption is $912.50 (calculation is simple: $3650 multiplied by 25%). For you and the spouse, that are multiplied by two anyone save $1825.

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Bottom Line: The IRS doesn't care about your social status. The government only really cares about one thing- getting their funds. You will have dodged the government for now, but exactly like they ensnared to Wesley Snipes- they will catch just about you. Feel free in settling your Tax Debts!

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