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Revision as of 03:43, 22 September 2026


Despite the actual tax rate reductions of your Jobs and Growth Tax Relief Reconciliation Act of 2003, the top marginal income tax bracket for many retirees is really a whopping 46.3%. Why? Because Social Security benefits are subject to income income tax. Those affected are Social Security recipients who hold the good fortune (misfortune?) pertaining to being subject to both the 25% income tax bracket along with the 85% inclusion rate for Social Security benefits.

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The knowledge that you gain really helps to prepare for ones tax planning. Remember that it is good to as early as opportunity. If you can avoid the errors in your tax return, you conserve a considerable time and tough work. The increased foreign earned income exclusion, increased income tax bracket income levels, and continuation of Bush era lower tax rates are excellent news for all American expats.

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