Paying Taxes Can Tax The Best Of Us: Difference between revisions
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Revision as of 13:38, 15 September 2026
Despite the new tax rate reductions among the Jobs and Growth Tax Relief Reconciliation Act of 2003, leading marginal income tax bracket for many retirees is really a whopping forty-six.3%. Why? Because Social Security benefits are subject to income income tax. Those affected are Social Security recipients who check out good fortune (misfortune?) to get subject to both the 25% tax bracket and also the 85% inclusion rate for Social Security benefits.
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