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Revision as of 12:36, 23 October 2024

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Congress finally acted on New Year's Day, passing the "fiscal cliff" rule. This law extended the existing tax rate structure for single taxpayers with taxable income of lower than USD 400,000, and married taxpayers with taxable income of less than USD 450,000. For along with higher incomes, the top tax rate was increased to 40.6% These limits are determined before a foreign earned income omission transfer pricing .

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Muni bonds should be owned within your taxable brokerage accounts, without having it in your IRA or 401K accounts because income in those accounts has already been tax-deferred.

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