How To Deal With Tax Preparation: Difference between revisions

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Revision as of 02:48, 23 January 2025

Despite the new tax rate reductions from the Jobs and Growth Tax Relief Reconciliation Act of 2003, the top marginal tax bracket for many retirees is really a whopping fouthy-six.3%. Why? Because Social Security benefits are subject to income tax bill. Those affected are Social Security recipients who have the good fortune (misfortune?) always be subject to both the 25% tax bracket as well as the 85% inclusion rate for Social Security benefits.

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