The benefits may be primarily psychological and priceless. You can tell yourself and others that you paid no income taxes.
This brings me to my question(s). I am wondering what are the potential benefits of having a year with zero taxable income?
I would prefer to have a 5 digit taxable income, and pay no income taxes.
It makes estimated income taxes simpler the next year, and may help you qualify for Medicaid.
You may even get a refundable tax credit.
Statistics: Posted by VanGar+Goyle — Mon Feb 17, 2025 12:40 am — Replies 4 — Views 374