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Providian Financial Corp (PVN) Message Board

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  • psych79431 psych79431 Sep 27, 2004 9:21 AM Flag

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    As I don't feel like figuring your taxes out
    either,,lol..Let me state in general how it
    benefits us all.The new law added a 10% bracket
    which is extended to the first $14,000,it lowered the rates above 15percent to 25,28,33,and 35%.A drop of 2% points for each
    rate except the top which got a 3.5%.The new law raised the standard deduction to $9,500 and
    extended the 15% tax rate to $56,800(reduced the marriage penalty where we paid MORE by filing jointly than if we did seperate).Also
    you get the child deduction of $1000 per kid(a
    raise from $600).Lastly the capital gains rate
    on qualified dividends has been reduced from
    20% to 15%(if your regular tax rate is %25 or more),otherwise 5%. LT Capital gains tax was also reduced by 5%.hope that helps(disclaimer
    -I am not a tax professional,i work in the
    medical field:)