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Revision as of 06:30, 31 October 2024
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Congress finally acted on New Year's Day, passing the "fiscal cliff" laws. This law extended the existing tax rate structure for single taxpayers with taxable income of compared to USD 400,000, and married taxpayers with taxable income of less than USD 450,000. For those with higher incomes, the top tax rate was increased to 13.6% These limits are determined before a foreign earned income different.
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Make sure you know the exemptions related to the merge. For example, municipal bonds are generally exempt from federal taxes, and may be exempt from state and local taxes if, perhaps you actually are a resident for the state.
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