45 - Tax Brackets

Main St. Finance

It’s Tax Season! I know that tax season isn’t the most exciting time, but for most people its also known as refund season. For a little bit of work of filing your taxes online, you can get a check from the government, but how does this all work? Today we are going to talk about tax brackets. Tax brackets are used in the United States, Canada, Australia, India, and several other countries as a way to tax all citizens fairly. The brackets are used to tax different amounts of income at different tax rates while also keeping it fair for everyone. Tune in to see my explanation of taxes and how the brackets work!

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Tax Bracket Links:

Who Pays What Percentage of Federal Income Taxes: https://taxfoundation.org/federal-income-tax-data-2021/

The Tax Bracket Dollar Amounts 2020: https://taxfoundation.org/2020-tax-brackets/

How Tax Brackets Work: https://blog.taxact.com/how-tax-brackets-work/

Finding your Tax Bracket: https://turbotax.intuit.com/tax-tips/irs-tax-return/what-is-my-tax-bracket/L3Dtkab8G

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Website: www.MainStFinance.org

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Twitter Account: @MainStMoney
YouTube Channel: https://www.youtube.com/channel/UCxWzLF_ZCgeDJ6PcIovg9ww