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What would happen if you reduce your taxable income to “0$”?
What would happen if you reduce your taxable income to "0$"? Ive saved up enough money to pay myself for a year. If I were to contribute 100% of my paycheck towards my 401k, would this:
Reduce my taxable income to $0? Increase my tax refund?
I can't remember specifically, but I'm sure there's a tax form showing your contributions which would prevent me from signing up for food stamps, or something simil...
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