Effective_Tax_Management - Title EffectiveTaxManagement

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Title Effective Tax Management  Assessment A: Understanding Taxable Income and Taxes Owed  Meaning of taxable income and taxes owed  Taxable income is all income received, minus all tax exempt income (like child support etc.), minus all deductions (like kids,  head of household) Taxes owed is the total amount. Taxable income is also generated from appreciated assets that have  been sold or capitalized during the year and from dividends and interest income. Income from these sources is generally  taxed at a different rate and calculated separately.    Assessment B: Understanding Ways to Save on Federal Taxes  Some ways to save money on your federal income tax  Some ways to you can save money on your federal tax return are by giving charitable donations, staying organized, 
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This note was uploaded on 09/24/2011 for the course US101, COM us101 taught by Professor Rockyriviera,alcycia,christiansyphus during the Spring '11 term at University of Phoenix.

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Effective_Tax_Management - Title EffectiveTaxManagement

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