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simple tax rate question
Old 07-16-2007, 03:35 PM   #1
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simple tax rate question

When your income places you in a higher tax bracket, isn't the higher tax rate only applied to the amount over the previous bracket versus it all.

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Old 07-16-2007, 03:38 PM   #2
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Old 07-16-2007, 03:38 PM   #3
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Yes, that's right. See this chart to see how it all works -

2007 Federal Tax Rate Schedules
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