How To Deal With Tax Preparation: Difference between revisions

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B) Interest earned, however paid, during a bond year, must be accrued after the bond year and reported as taxable income for that calendar year in which your bond year ends.

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Example: Mary, an American citizen, is single and lives in Bermuda. She earns a salary 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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