According to the tax charges, Hunter Biden received taxable income in excess of $1,500,000 annually in calendar years 2017 and 2018.

Source: https://njtoday.news/2023/06/20/presidents-son-hunter-biden-to-plead-guilty-to-tax-crimes-firearm-felony/

As a CEF, DFP is required to pay out a distribution equaling their taxable income and all capital gains.

Source: https://seekingalpha.com/article/4593022-loading-up-dfp?source=feed_all_articles

As a REIT, it is not subject to federal income tax to the extent that it distributes its taxable income to its shareholders.

Source: https://www.dailypolitical.com/2023/01/10/contrasting-sun-communities-nysesui-annaly-capital-management-nysenly.html

A tax credit in general favors wealthier people who owe money on their taxes, since it essentially allows them to lower their taxable income.

Source: https://time.com/6270883/biden-climate-legislation-taxes-ira/

Employee benefit plans and most other tax-exempt organizations, including IRAs and other retirement plans, are subject to U.S. federal income tax on unrelated business taxable income (“UBTI”).

Source: https://seekingalpha.com/article/4640725-earn-a-massive-9-7-percent-tax-free-passive-income-greystone-housing?source=feed_all_articles

For help, use the Tax Withholding Estimator tool at IRS.gov. If you’re retired and have multiple sources of taxable income, you may need to change Form W-4V, Form W-4P, and contact your IRA custodian.

Source: https://www.forbes.com/sites/joeljohnson/2023/05/18/smart-ways-to-use-your-tax-refund/

However, more than one million negatively-geared taxpayers received less than $10,000 in deductions from their income in 2021 and many received no net benefit because their taxable income was so low they didn’t pay any tax on it.

Source: https://www.theage.com.au/national/fiona-martin-is-a-typical-landlord-but-she-s-not-what-you-expect-20230517-p5d931.html?ref=rss&utm_medium=rss&utm_source=rss_feed

If your income for the year is moderate or high, and you have registered retirement savings plan (RRSP) room, you can consider contributing to offset some of the taxable income.

Source: https://www.moneysense.ca/columns/ask-a-planner/capital-gains-on-stocks-during-acquisitions-and-mergers/

Since the money you put into a 401(k), 403(b), or traditional IRA comes from pre-tax dollars, you are effectively reducing the overall taxable income you have.

Source: https://genevalunch.com/tips-for-saving-money-while-filing-taxes/

Smith has been ordered to pay $411,279 to the IRS after underreporting $1.2 million of taxable income to the IRS.

Source: https://www.denver7.com/83-year-old-former-marathon-director-sentenced-after-stealing-funds

The solution is not to raise the age limit for retirement but to eliminate the maximum taxable income for Social Security, currently $160,200.

Source: https://www.nytimes.com/2023/11/18/opinion/social-security-elderly.html

The top marginal tax rate was 92 percent in 1952, which meant that individuals kept only eight cents of each dollar of taxable income beyond $200,000.

Source: https://www.deseret.com/2023/12/14/23960881/post-war-ceos-george-romney-mitt-romney-taking-more-and-less

This reduces your taxable income and how much tax you have to pay.

Source: https://www.dailymail.co.uk/news/article-11716295/Young-Aussie-reveals-hack-save-thousands-dollars-tax-year.html?ns_mchannel=rss&ns_campaign=1490&ito=1490

Your tax liability is just like any other investment in a corporation: the difference between your basis and any sales price and then any distributions you’ve gotten to the extent they constitute taxable income.

Source: https://seekingalpha.com/article/4629799-mlpa-nows-the-time-to-go-overweight-improving-energy-momentum?source=feed_all_articles