2010 Income Tax Planning - Michigan State University

Tax rates are lower this year and scheduled to increase next year. The 10% tax bracket will disappear after 2010 so the lowest bracket will be 15%. The highest bracket will increase from 35% to 39.6% for ordinary income. The long term capital gains rate (used for raised, cull cows that are sold, for example) increases from 0% or 15% to 10% or 20%. ................
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