Check to See If Your Tax Bracket Is Changing for 2024
On Thursday, the IRS released its annual adjustments for the 2024 tax year, which include changes to income tax brackets and a higher standard deduction. These shifts happen every year…
How Inflation Might Help Lower Your Taxes in 2023
Photo: fizkes (Shutterstock) On Tuesday, the IRS announced several adjustments for the 2023 tax year to account for the impact of inflation. For many taxpayers, the changes could lead to…
Your Tax Bracket Just Changed for 2022
Photo: Africa Studio (Shutterstock) Yesterday, the IRS released inflation-adjusted income tax brackets for 2022, which will be increasing by the largest year-to-year margin since Congress revamped the tax code in…
How to Remember the Difference Between Effective and Marginal Tax Rates
Photo: FellowNeko (Shutterstock) If you stare blankly in confusion when reading the phrases “marginal tax rate” or “effective tax rate,” or can’t remember the difference between the two, a refresher…