Categories for Guest Post of the Month

• 2021 Vs 2022 Vs 2023 Federal Income Tax Brackets

  Posted Date September 1, 2023 Posted Time 12:00 pm Published in Service2Client

  The US tax system is progressive, meaning that the more you earn the more you pay. For the years 2021-2023 there are seven different brackets for each year (2020 was the same structure as well). Which bracket you are in depends on your taxable income; however, your bracket does not equal your tax rate. Tax brackets work so that you pay part of your income at each level bracket as you move-up in income. In other words, someone in the 32% marginal rate bracket will pay 10% on part of their income, 12% on another part, then 22% on another... View Article