America 1979

Chapter 65
"What about the school-going wife you were talking about? And that young child being raised, does my 12-year-old brother qualify?"

Bill asked.

He really didn't want to just pay $[-] in taxes.

"If your spouse is in college, you can file jointly to get a more favorable amount of relief. For example, if Mr. Ferrari has a wife who is a college student, the IRS tax of 6 can be reduced to [-] If your wife is studying for a Ph.D., you can reduce even more. If you have student loans, you should only pay about [-] for the [-]."

The old white man took Bill as an example, and then answered the second question.

"Your younger brother should not constitute your relief unless you can prove that you have been raising him and 12 is a bit old."

Bill was very worried, and after thinking for a while, he asked, "How does a person with an annual income of 30 yuan reduce his personal tax as much as possible? I want you to explain it clearly to me."

Anyway, there is still one and a half months before the deadline, so if you can do it, do it as much as you can, even if you pay a few thousand dollars less, Bill doesn't want to be the victim of this big injustice.

The old man helped his reading glasses, "Generally speaking, the wealthy middle class will get a tax deduction by keeping themselves in the loan status. This item can reduce up to [-] U.S. dollars. Then there is more consumption, especially if you can pay more. The consumption of the federal consumption tax can also be deducted from the personal tax amount.”

He stopped and thought for a while, pointed to the bill in his hand and said: "If you make money through stocks, futures, funds, etc. like you, you can also use the handling fees to the exchange to offset the IRS tax. In addition , part of the handling fee paid to the brokerage company can also be deducted from personal tax. In addition, you can also choose to do charity to deduct tax..."

The old man talked intermittently for a long time, Bill asked him for paper and pen and started to take notes.

In general, if you want to reduce taxes, you should borrow more, consume more and do more charity. At the same time, you can cash out less of your real estate, and you can also buy loss-making assets to increase your loss. This can also reduce personal tax.

After he stopped writing, Bill recalled for a moment and felt that he still had room for tax reduction, "I paid 460 four dollars and 76 cents to the New Zealand Mercantile Exchange, which is tax deductible, right?"

The old man looked at Bill with a kind of childish feeling, "Yes, yes, you can recall the memory again."

"Then the seven thousand seven thousand four hundred and ninety-nine dollars and three cents I gave to the brokerage company can also be used as part of it?" Bill continued his efforts.

The old man lowered his head and began to look through the information: "Wait a minute, let me check the ratio of this... Well, it's about 20.00%. Let me do the math, and this is 85 dollars and [-] cents."

After finishing the calculation, he fiddled with the calculator for a long time, and gave an accurate figure, "At present, the total tax deduction is 69 US dollars and 61 cents. If you have big consumption, you can also ask for it , I will count it for you now."

Bill tentatively asked: "If I go to get a loan now and spend a lot of money, can I also get a forgiveness amount?"

"Yes, the personal tax you have to pay next year will become less. But if you want to reduce last year's personal tax, you have to find the consumption records between January 1979 and December 31, [-] .” The old man said very clearly.

This remark made Bill regret endlessly. Before that, his attitude towards money has always been the Chinese mentality before time travel. He can hide it and never let it out to others. When he has money, he saves it and spends it later, instead of spending it first and then repaying his credit card and money. loan.

Because he always felt that he was a child walking in the busy city with gold, so he didn't even spend a lot of money, he didn't even buy a two-hundred-dollar car, he searched for his family, and he didn't give any valuable gifts.

If I had known that I would give $[-] to the IRS for free, I might as well just buy a bigger house for my family. At this point in time, housing prices in New York are shockingly low, except for Long Island, which may be slightly more expensive, and the local homeowners’ committee does not agree to give A low-income Italian immigrant sells his house, and the entire New York house is at his disposal.

Angrily, Bill slapped his thigh.

But there is no way. It is more than a year before Reagan reforms the tax system. Neither the personal income tax nor the capital gains tax has been lowered. There is no way to avoid too much tax last year.

"That's it, you first calculate the IRS tax and local government tax I have to pay. Wait until March NO.20, and I will go with you to submit the tax and tax returns."

The old man didn't ask why it was before NO.20 in March. He lowered his head and took a calculator for a while and then gave two figures: "For the IRS, you need to pay 280 two dollars and 82 cents. New York State and For New York City, $45. That’s $93327.82.”

Hearing this number, Bill felt suffocated and didn't even want to say anything.

The old man was very responsible, and began to enlighten again: "Sir, this is actually a good thing. If you have obtained more than 29 U.S. dollars through multiple transactions, the IRS tax inspection costs will be greatly increased, and your chances of being spot-checked will be higher. Small. But you made so much profit in one transaction, the IRS will definitely check your tax records, paying the full amount this time will make it easier for the next few years..."

"For the IRS who have doubts about taxes, they should pay protection fees." Bill comforted himself.

After paying a part of the fee in advance, Bill took the notes he had made and took the bus home.

Although today is Monday, he is not in the mood to go to school at all, and he does not need to train after three o'clock in the afternoon. Bill wants to take a day off to relax.

The family didn't have to go home at noon, Bill went out to find a restaurant for dinner by himself, and when his sister Dorothy came back in the evening, she was surprised that her brother returned home so early.

"Brother, there is something I want to discuss with you." After putting her schoolbag on the pile of debris by the door, Dorothy walked over to Bill who was lying on the sofa watching TV.

"Say!"

Bill shifted his position slightly so that he and his sister could meet their eyes.

"I just got the offer and scholarship notice from RD's Binghamton campus. I thought, should I go to this state university campus instead of ED1's Columbia University."

The tax payment in the morning was enough to bother him, and Bill was even more upset when the girl suddenly came out.

"Tell me your reasons."

Dorothy went to another sofa, sat down and began to persuade her brother.

"It's like this. Binghamton gave me a scholarship of 9000 dollars per academic year. Since this is a public university in the state, I only need to pay [-] dollars in tuition, and also arranged a dormitory for me. As for Columbia College, although the scholarship they give is [-] U.S. dollars, the tuition fee is more than [-], not including books and miscellaneous expenses, etc. The dormitory has not yet been decided. If I go to this university, I may have to rent a room by myself , cost too much."

Speaking of this, Bill, who was distressed by the tax, turned over and sat up, and persuaded him in a posture of someone who had experienced it:
"Don't be afraid of expensive tuition fees. We can use loans and student loans to pay tuition fees. Don't be afraid of having no money to spend. This is an era when banks dominate everything. We can borrow money from banks and pay it back when we are able to repay it. And Loans can also reduce personal income tax, and writing the experience of repaying student loans on your resume can also increase the recognition of the people at the bottom, which will help you to participate in elections in the future..."

The mistakes he made, we can't let his sister make the same mistakes, the way to get the loan early is the kingly way.

PS: Ask for a recommendation ticket and ask for a monthly ticket.Thank you for your help. This book will be recommended by Sanjiang tomorrow. Some book friends want to chat, so they opened a book friend group, and you can add it at the bottom of the introduction. Those who want to chat can come in .

(End of this chapter)