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Tax Rate |
Also found in: Financial, Acronyms, Wikipedia | 0.03 sec. |
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The amount of charges imposed by the government upon personal or corporate income, capital gains, gifts, estates, and sales that are within its statutory authority to regulate. Tax rate schedules are utilized by taxpayers whose taxable incomes exceed certain designated amounts. Separate schedules are provided for married individuals who file jointly, unmarried people who maintain a household, single people, estates, trusts, and married couples who file separate returns. Cross-referencesHow to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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In general, for clients who expect their marginal tax rate in retirement to remain the same as it is currently, a 401(k) or a deductible IRA is equivalent to a Roth IRA. Under prior law, unearned income of children under age 14 was taxed at their parents' marginal tax rate once it exceeded $1,700 for 2006, if the parent could claim the child as a dependent. The revenue could be used for some combination of federal deficit reduction, reducing the marginal tax rate on lower-income workers, and intelligently chosen spending programs, for example, to reduce the security dangers from nuclear proliferation. |
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