marginal tax rate

Tax Rates 101

There is a lot of talk about tax rates. Every way you turn the talking heads are mentioning them once again. Yet I venture to say the average person doesn’t fully understand how our tax system works. For example, a family making $100,000 a year may be especially terrified to learn their tax bracket may be raised from 25% to 28%. Quick head math: 3% more a year is $3,000 moreĀ  a year in taxes! However, it’s not that simple. Read on for your free Tax Rates 101 course.

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