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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: J_F_Shepard who wrote (595550)12/13/2010 7:17:01 AM
From: Bill1 Recommendation  Read Replies (1) | Respond to of 1580718
 
Joe, deductions are expenses (deducted from income). They are a finite accumulation of costs deemed not fair to tax (charitible contributions, state taxes, mortgage interest, etc.). You seem to think high acheivers (unlike yourself) can just invent enough deductions on their tax returns to get their taxable income lower than their secretary's. Unfortunately, it's stupid and naive for you to continue that line of thinking.



To: J_F_Shepard who wrote (595550)12/13/2010 10:08:06 AM
From: i-node  Read Replies (2) | Respond to of 1580718
 
The objective of tax prep is to shield as much income from all sources as is legally allowable and not allow too much of your taxable to get get taxed at the higher rates....clearly most very high income people know how to do that..

The objective for a tax professional is ALWAYS to submit a return with the correct amount of tax.


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