History For The Federal Tax: Difference between revisions
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Latest revision as of 13:19, 12 November 2024
Despite the new tax rate reductions belonging to the Jobs and Growth Tax Relief Reconciliation Act of 2003, tips for sites marginal tax bracket for many retirees is often a whopping forty-six.3%. Why? Because Social Security benefits are subject to income tax. Those affected are Social Security recipients who have the good fortune (misfortune?) to get subject to both the 25% tax bracket along with the 85% inclusion rate for Social Security benefits.
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