Dealing With Tax Problems: Easy As Pie: Difference between revisions
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Revision as of 01:45, 5 February 2025
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Debt forgiveness, you see, is treated as taxable income. Why? In the nutshell, an individual gives you money and do not need pay it back, it's taxable. Like you have to taxes on wages coming from a job. Perhaps the reason your debt forgiveness is taxable is really because otherwise, might create a large loophole in the tax password. In theory, your boss could "lend" serious cash every 2 weeks, also the end of 2010 they could forgive it and none of several taxable.
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