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 Form 3809 Targeted Tax Area Deduction and Credit Summary Form 3809 Targeted Tax Area Deduction and Credit Summary 2019

2019-2025 Form

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here's how tax credits work let's say you're single earning a hundred thousand dollars your total tax liability would be fourteen thousand two hundred and sixty one dollars and let's say that you qualified for a two thousand dollar tax credit that means your total tax liability would be reduced to twelve thousand two hundred and sixty one dollars and if we look at this per paycheck with that same hundred thousand dollars paid twice per month that would be four thousand one hundred and sixty six dollars and sixty seven cents before taxes your total federal income taxes would be five hundred and ninety four dollars and nineteen cents your total take-home pay would be three thousand two hundred and fifty three dollars and seventy three cents but if we apply this two thousand dollar tax credit your federal income taxes dropped to five hundred and ten dollars and eighty five cents that means your total take-home pay goes up to three thousand three hundred and

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