Lotro Mastery

Comparison of tax rates around the world is difficult and somewhat subjective. The Tax Relief Act of 2010 (H.R. 4853), signed into law on December 17, 2010, retains these six federal tax brackets for two additional years: 2011 and 2012. That’s because these tax rates apply to most kinds of income, and are distinguished from the more favorable capital gains tax rate imposed on long-term gains and qualified dividends. This year, there is no such drama, so it’s really just a matter of adjusting the brackets (and the standard deduction) for inflation. Being in a higher tax bracket is a good thing. There are special capital gains tax rates for dividends, long-term investments, collectibles, and certain types of real estate.