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Latest revision as of 05:28, 11 November 2024

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Despite the new tax rate reductions among the Jobs and Growth Tax Relief Reconciliation Act of 2003, the top marginal tax bracket for many retirees is often a whopping 46.3%. Why? Because Social Security benefits are subject to income income tax. Those affected are Social Security recipients who purchase the good fortune (misfortune?) turn out to be subject to both the 25% income tax bracket and the 85% inclusion rate for Social Security benefits.

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Copyright 2010 by RioneX IP Group LLC. All rights ordered. This material may be freely copied and distributed subject to inclusion of this copyright notice, author information and all the hyperlinks are kept unchanged.

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