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Putting A Potential Jump In Dividend Taxes Into Perspective
The tax situation for the example given is actually worse than portrayed. A married couple with $80,000 of income could take 19500 for the standard deduction and 2 exemptions, dropping their taxable income to a little over 60,000. This is the 15% bracket. Through the 2012 tax year, capital gains and dividends are not taxed at all for this bracket. You don't begin to pay the 15% rate until your income exceeds around 70,000 and then only on the excess. Unless this is extended all the dividend income in the above will be tax at 15%. For someone currently in the 25% bracket, they would see an even larger increase in taxes if dividends go back to ordinary income.
Nov 15, 2012. 05:43 PM
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