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Latest revision as of 08:39, 29 July 2026

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We hear a lot about income taxes, however most people thought just simply how much income-related taxes they're paying. We're taxed by both our federal government and our state. Since the federal government takes the lion's share, I'll pay its taxes.

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Muni bonds should be owned inside your taxable brokerage accounts, and never in your IRA or 401K accounts because income in those accounts is already tax-deferred.

In 2003 the JGTRRA, or Jobs and Growth Tax Relief Reconciliation Act, was passed, expanding the 10% income tax bracket and accelerating some among the changes passed in the 2001 EGTRRA.

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