Looks like most people will get a modest dose of tax relief next year. Each year the government is required to adjust many tax-related numbers, including income thresholds, to reflect inflation. For example, the top federal rate of 35% won’t kick in unless taxable income in 2008 exceeds $357,700, up from $349,700 from 2007.

Official IRS numbers will be released later this year. In the meantime, check with your CPA or Financial Planner for your new income tax bracket and happy planning!

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