Learn About The Way A Tax Attorney Works: Difference between revisions
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Revision as of 18:02, 21 September 2024
Despite fresh tax rate reductions belonging to the Jobs and Growth Tax Relief Reconciliation Act of 2003, the superior marginal tax bracket for many retirees can be a whopping fouthy-six.3%. Why? Because Social Security benefits are subject to income in taxes. Those affected are Social Security recipients who hold the good fortune (misfortune?) pertaining to being subject to both the 25% taxes bracket and the 85% inclusion rate for Social Security benefits.
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