Paying Taxes Can Tax The Better Of Us: Difference between revisions
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Revision as of 04:43, 7 August 2026
Despite the new tax rate reductions of the Jobs and Growth Tax Relief Reconciliation Act of 2003, tips for sites marginal income tax bracket for many retirees is often a whopping 46.3%. Why? Because Social Security benefits are subject to income tax bill. Those affected are Social Security recipients who have the good fortune (misfortune?) to be subject to both the 25% taxes bracket along with the 85% inclusion rate for Social Security benefits.
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