Released: October 21, 2007

Knowing the rules results in tax savings

Source: Humberto Cruz, Tribune Media Services (Free Registration)

Achance remark on a column about year-round tax savings has prompted a few skeptical, if not downright cynical, responses.

I mentioned that my wife, Georgina, and I are in the 15 percent tax bracket, the second-lowest (brackets range from 10 percent to 35 percent). Many readers wanted to know how that could be, thinking we are resorting to tax trickery.

“Hmm, let’s see,” began one e-mail. “You and your wife stash away lots in your pension plan and write off many expenses since you are self-employed. You need to get a substantial raise, maybe? Better hope some IRS agent reading your column doesn’t get too curious.”

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