75 Possible Tax Deductions

There are now seven different ordinary income tax brackets- 10%, 12%, 22%, 24%, 32%, 35%, and 37%, and three different capital gains tax brackets- $0%, 15%, and 20%.

Furthermore, 3.8% NIIT Net Investment Income Tax bracket, further complicates the situation.

For example, high income taxpayers will be subject to a 40.8% tax rate on ordinary investment income and a 23.8% tax rate on long-term capital gains.

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