A Standing For Taxes - Part 1: Difference between revisions

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Latest revision as of 10:39, 14 August 2026


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The old adage is crime doesn't pay, but one certainly can wonder sometimes about the truth of it given how many of politicians that find a way to be baddies! Regardless, the fact you might be making money from a crime doesn't mean you do not to pay taxes. That's right. The IRS wants its unfair share of one's ill gotten gains!

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

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