Difference between revisions of "Offshore Business - Pay Low Tax"
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Revision as of 21:31, 11 November 2024
Despite brand new tax rate reductions belonging to the Jobs and Growth Tax Relief Reconciliation Act of 2003, the top marginal tax bracket for many retirees can be a whopping forty six.3%. Why? Because Social Security benefits are subject to income tax. Those affected are Social Security recipients who have enough good fortune (misfortune?) to be subject to both the 25% taxes bracket as well as the 85% inclusion rate for Social Security benefits.
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