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| | Your Marginal Tax Rate |
 | | You need to know this because the rate of tax you are paying on your highest dollars of income is called your marginal tax rate, and it can have a tremendous impact on many of your financial decisions. |
 | | This new 10% tax bracket applies to the first $6,000 if you're filing as single or you're married and filing separate income tax returns, $12,000 if you're married and filing a joint return or if you're a qualifying widow(er), or $10,000 if you're filing as head of household. |
 | | This credit entitles you to a reduction of your taxes equal to 5% (the difference between the 15% rate and the 10% rate) of your income that would otherwise be eligible for the new 10% rate. |
| www.quicken.com /cms/viewers/article/taxes/53572 (554 words) |
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