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Revision as of 17:56, 12 May 2026

Despite the actual tax rate reductions among the Jobs and Growth Tax Relief Reconciliation Act of 2003, the top marginal tax bracket for many retirees can be a whopping 46.3%. Why? Because Social Security benefits are subject to income tax bill. Those affected are Social Security recipients who check out good fortune (misfortune?) to get subject to both the 25% income tax bracket and the 85% inclusion rate for Social Security benefits.

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If you believe taxes are high now, wait till 2011. Inside the federal, state and local governments, you may be paying extremely than after you are. Plan for the product ahead of time and require to be able to limit the damage.

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