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What is the tax rate for 2024?

For the tax year 2024, the top tax rate is 37% for individual single taxpayers with incomes greater than $609,350 ($731,200 for married couples filing jointly). The other rates are: Due to the 2017 tax reform law, there will be no personal exemption amounts in 2024.

Are capital gains tax brackets for 2024 a good idea?

IRS has announce new Capital Gains Tax Brackets for 2024 The stock market was on a tear in 2023, which is fantastic for your net worth. The downside might be that you may be sitting on a large amount of capital gains. (To be clear, this is a good problem to have). While often ignored, tax planning is part of being a good investor.

How are capital gains taxed in 2023 & 2024?

Long-term capital gains are taxed at lower rates than ordinary income, while short-term capital gains are taxed as ordinary income. We've got all the 2023 and 2024 capital gains tax rates in one place.

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