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Version du 10 novembre 2024 à 20:34
Despite the tax rate reductions among the Jobs and Growth Tax Relief Reconciliation Act of 2003, the top marginal tax bracket for many retirees is often a whopping 46.3%. Why? Because Social Security benefits are subject to income taxation. Those affected are Social Security recipients who purchase the good fortune (misfortune?) turn out to be subject to both the 25% tax bracket as well as the 85% inclusion rate for Social Security benefits.
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