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Updated about 18 years ago on . Most recent reply

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Passive income

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What taxes do you pay when you receive passive income?
also can someone please give some details on other types of income.

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okay, so let me get this straight, when you take a deduction it potentially lowers your tax bracket if its a big enough deduction and you end up paying less in taxes. because as you make more you pay a higher % correct? so like if i make 50k a yr but i have 30k in deductions im taxed on 20k? jus a simple example i know there are different brackets and all that.

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