How Does Tax Relief Work: Difference between revisions

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Latest revision as of 03:06, 23 September 2024

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Marginal tax rate may be the rate of tax would you on your last (or highest) involving income. In the described example, the person is being taxed with a marginal tax rate of 25% with taxable income of $45,000. This might mean the affected individual is paying 25% on her last dollars of income (more than $33,950).

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