History On The Federal Income Tax: Difference between revisions

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Latest revision as of 11:55, 12 November 2024

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Because of your increasing tax rate better brackets, a reduction of taxable income attending the higher bracket saves you more tax than exact reduction at a very lower mount. So let's compare the tax saving of contributing $1000 by a single person with a $30,000 income with what single person with a $100,000.

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