how to reduce taxable income for high earners 2020
Your tax bracket depends on your taxable income and your filing status. Seniors must pay back all or a portion of their OAS line 11300 of the tax return line 113 prior to 2019 as well as any net federal supplements line 14600 line 146 prior to 2019 if their annual income exceeds a certain amount.
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There are seven tax brackets for most ordinary income for the 2021 tax year.
. 10 12 22 24 32 35 and 37. Seniors- Old Age Security Clawback Old Age Security OAS Clawback Income Tax Act s.
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