Difference between revisions of "The Tax Benefits Of Real Estate Investing"

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Revision as of 03:42, 22 September 2024

Despite fresh tax rate reductions for this Jobs and Growth Tax Relief Reconciliation Act of 2003, the top marginal income tax bracket for many retirees is often a whopping fouthy-six.3%. Why? Because Social Security benefits are subject to income taxation. Those affected are Social Security recipients who have enough good fortune (misfortune?) always be subject to both the 25% tax bracket and also the 85% inclusion rate for Social Security benefits.

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If your salary is below $16,750 then you will have to pay around 10% of income tax. More than you make a single person and living a bachelor life then you will have to pay more interest as the limit is actually only $8,375. Thus couples are definitely in gain.

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