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explain in full any tax advantage we get from increasing pension contributions and if there is a cap on the amount we can contribute? British taxation

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter12: Alternative Minimum Tax

Section: Chapter Questions

Problem 7DQ: Can any nonrefundable credits, other than the foreign tax credit, reduce the regular income tax...

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explain in full any tax advantage we get from increasing pension contributions and if there is a cap on the amount we can contribute? British taxation

Rules by which an authority (usually a government) imposes a financial obligation on individuals or organizations within its domain. Property or transactions can be taxed. While taxes are primarily intended to fund the operation of a government, many tax laws are created to encourage or discourage certain behaviors by citizens or companies.

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