The Individual Investor’s Guide to Personal Tax Planning 2014
We start this year’s tax guide with some good news: You may have a smaller federal tax bill in 2015.
The Internal Revenue Service (adjusted several line items to account for inflation. This indexing increases the dollar amounts defining each tax bracket and the dollar amounts for various exemptions and deductions. The net result is that less of your income may be taxed. Plus, if you are just above the breakpoint for a tax bracket this year, the adjustments could potentially put you into a lower tax bracket in 2015.
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