Help Your High-income Senior Clients Plan for New Tax Complexities
Income tax planning is a complex chore for most high-income people. But for one part of the affluent population, retired people age 65 and up, ...
By Staff Writer|May 01, 2006 at 08:00 PM
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Income tax planning is a complex chore for most high-income people. But for one part of the affluent population, retired people age 65 and up, it will soon become an even greater challenge.
With the help of a tax preparer and a pocket calculator, most taxpayers under the age of 65 can estimate their marginal tax rates in a few minutes, and it is rarely higher than about 40%. For older affluent taxpayers, even the most sophisticated tax advisors will soon have trouble deciding the effective marginal tax rate. If they succeed, they may not believe their eyes.
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