Difference between revisions of "Annual Taxes - Humor In The Drudgery"

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Latest revision as of 07:42, 23 January 2025

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Because from the increasing tax rate of higher brackets, a reduction of taxable income to the higher bracket saves you more tax than the same reduction for any lower bracket. So let's compare the tax saving of contributing $1000 by an individual with a $30,000 income with exactly what a single person with a $100,000.

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