Smart Taxes Saving Tips: Difference between revisions

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(Created page with "The courts have generally held that direct taxes are limited to taxes on people (variously called capitation, poll tax or head tax) and property. (Penn Mutual Indemnity Denver [https://pinterest.com/search/pins/?q=colorado colorado]. v. C.I.R., 227 F.2d 16, 19-20 (3rd Cir. 1960).) All other taxes are commonly referred to as "indirect taxes," basically tax an event, rather than person or property per se. (Steward Machine Co. v. Davis, 301 U.S. 548, 581-582 (1937).) What w...")
 
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Revision as of 07:15, 4 March 2025

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Example: Mary, an American citizen, is single and lives in Bermuda. She earns an income of $450,000. Part of Mary's income will be subject to U.S. tax at the 39.6% tax rate.

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