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Latest revision as of 05:36, 14 September 2026
Despite the new tax rate reductions belonging to the Jobs and Growth Tax Relief Reconciliation Act of 2003, helpful ideas marginal income tax bracket for many retirees can be a whopping forty six.3%. Why? Because Social Security benefits are subject to income taxation. Those affected are Social Security recipients who include the good fortune (misfortune?) always be subject to both the 25% taxes bracket as well as the 85% inclusion rate for Social Security benefits.
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