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Posted by Gil Faver on January 29, 2008, 6:35 pm
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> William Brenner wrote:
>> Jonathan Kamens wrote:
>>>> That's nothing, I have had my tax go up by adding deductions.
>>>
>>> Presumably this was because AMT kicked in?
>>>
>>> (Directed at you and the other participants in this group:) In
>>> what scenario besides AMT could one's tax owed go up after
>>> adding deductions to one's return?
>>>
>> If said deductions totaled less than the standard deduction?
>>
> Actually one additional dollar in income might put one in higher bracket,
> causing another 8$ in tax.
>
> Just yesterday I called the city to confirm their gross receipts tax
> table. Seems that if business gross receipts are less than 100,000$,
> then the tax is $100. If more, the tax is 267$ plus $2.05 per thousand
> over the 100,000.
> So, see what an extra dollar might do?
>
> Who said "taxes is fair!"???? (Surely not I.)
of course, honest mistakes happen right near that type of threshold . . .
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