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Latest revision as of 23:42, 31 October 2024

The IRS has set many tax deductions and benefits instead for people. Unfortunately, some taxpayers who earn a great deal of income can see these benefits phased out as their income ascends.

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For my wife, she was paid $54,187, which she isn't taxed on for Social Security or Healthcare. She gets to put 14.82% towards her pension by law, making her federal taxable earnings $46,157.

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