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Explains the various types of income

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Reference no: EM13303650

You have just been notified by your firm's Managing Principal that another financial planner has decided to leave the firm. Some of her clients will be notified that you will be their new point of contact for their planning.

The former planner had a fairly diverse group of clients and you plan to meet with each of them to help better understand their financial situations and see if any of them could benefit from your specific approach to financial planning that comes from a taxation perspective.

The first client, Mr. and Ms. Hewitt, need assistance in understanding more about what is taxable and how their tax bracket keeps changing. Compose a professional note that explains the following:

  • The various types of income that is subject to taxation
  • A marginal tax bracket, how it is determined, and what it means

Reference no: EM13303650

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