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Marginal tax rate may be the rate of tax obtain a on your last (or highest) amount of income. In the earlier described example, the body's being taxed with a marginal tax rate of 25% with taxable income of $45,000. This should mean the child is paying 25% on her last dollars of income (more than $33,950).

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People hate paying place a burden on. Tax avoidance strategies are entirely legal and must be made good use of. Tax evasion, however, isn't. Make sure you know where the fine line is.

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