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(Image: [[http://www.investopedia.com/thmb/OjQ23i3T_5kENgPyvIv_TKgXqdk=/1920x1280/filters:fill(auto,1)/income-tax-4097292_19201-45a89f65565f4c1c885c8eaaa92b4744.jpg|http://www.investopedia.com/thmb/OjQ23i3T_5kENgPyvIv_TKgXqdk=/1920x1280/filters:fill(auto,1)/income-tax-4097292_19201-45a89f65565f4c1c885c8eaaa92b4744.jpg)]]

How many of us count our duty? The truth is, hardly if any. Your market eyes of the government, not all income sources are treated equally. For example, when happen to be working for your coworkers as an employee and you duly pay your taxes at the end of the 12 month period. This has been going on for few years. The amount of taxes paid is noticeable to work as the same each year (give and take). Therefore, it will be as though that earned income are going to be taxed equally each and every.

The more you earn, the higher is the tax rate on as a precaution earn. In 2010-you have six tax brackets: 10%, 15%, 25%, 28%, 33%, and 35% - each assigned with bracket of taxable income.

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For example, if you get under $100,000 annually, up to $25,000 of rental income losses qualify as deductible, and also you can save thousands of dollars on other income origins through this deductions. However, if you earn over $100,000 a year, this deduction begins to phase out, until ought to completely gone for taxpayers earning $150,000 and above annually.

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More info has been written to the DokuWiki error log.