A Standing For Taxes - Part 1: Difference between revisions

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Despite brand new tax rate reductions belonging to the Jobs and Growth Tax Relief Reconciliation Act of 2003, leading marginal tax bracket for many retirees is often a whopping forty six.3%. Why? Because Social Security benefits are subject to income in taxes. Those affected are Social Security recipients who purchase the good fortune (misfortune?) turn out to be subject to both the 25% taxes bracket and also the 85% inclusion rate for Social Security benefits.

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