How To Deal With Tax Preparation: Difference between revisions

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Latest revision as of 05:36, 8 October 2026


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I am aware that some lenders only send 1099s to the borrower. Effect of the 1099 in your own personal situation will vary depending precisely what kind of entity the borrower is (C-Corp, S-Corp, LLC, etc). Most CPAs will have the option to let you know that a 1099 would manifest itself. For example, most of folks will fall in the 25% federal income tax rate, and let's guess that our state income tax rate is 3%. Delivers us a marginal tax rate of 28%.

We subtract.28 from 1.00 permitting.72 or 72%. This means which non-taxable price of 3 or more.6% would be the same return as a taxable rate of 5%.

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