The term “tax bracket” refers to the highest tax rate charged on your income. Under the federal income tax system, different rates apply to different portions of your income. So people in, say, the 25 percent tax bracket don’t actually pay 25 percent of their income in taxes; rather, the last dollar they earn is taxed at 25 percent. To find out more, see the full TurboTax article.
What tax bracket you are in says a lot about your life. This infographic will give you an overview of your taxable income, and offers tips for how to lower or maintain your current tax bracket.
Everyone loves a good bonus… until it’s taxed. You could avoid paying more taxes if you defer your bonus to the New Year. Learn more with this TurboTax infographic from the TurboTax Blog.
Did you know that not everyone or every dollar earned is taxed the exact same amount? For the 2016 tax year, there are seven tax brackets of varying size with the lowest bracket being subject to a 10% marginal tax rate and the highest being subject to 39.6%. Read more about tax brackets in this TurboTax Blog post.
Our infographic – What Your Tax Bracket Says About You – will give you an overview of your taxable income, and offers tips for how to lower or maintain your current tax bracket.
Check out our infographic – End of Year Tax Tips – for a few tax-advantageous things that you can still do before the end of the year that could mean big savings come tax time.
Are you a newly married couple? Learn about single tax withholding vs married filing jointly.
Learn how to find your tax bracket. Finding the tax bracket you fall into will help you know just how much money you have to pay each year.
What is my tax bracket? The term “tax bracket” refers to the highest tax rate charged on your income.