Offshore Banking Accounts And The Irs Hiring Spree

Despite the actual tax rate reductions of the Jobs and Growth Tax Relief Reconciliation Act of 2003, the top marginal tax bracket for many retirees can be a whopping fouthy-six.3%. Why? Because Social Security benefits are subject to income in taxes. Those affected are Social Security recipients who purchase the good fortune (misfortune?) to be subject to both the 25% income tax bracket as well as the 85% inclusion rate for Social Security benefits.Proceeds after a refinance aren't taxable income, which are watching approximately $100,000.00 of tax-free income. You've not sold how you can (which most likely taxable income).you've only…