#tax brackets
So many people out there think if they move into a higher tax bracket, ALL their income is taxed at that level. It’s simply not true. Explained beautifully in this graphic.
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What Are Tax Brackets?
The United States uses a progressive tax system, which means different portions of your income are taxed at different rates. To learn more about this system and how it impacts your taxes, see the full TurboTax article about tax brackets.
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