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How to Make Use of the Zero-Percent Tax Bracket
Manage episode 400683480 series 3428540
If you look at the tax tables, you’ll see that there are seven different tax brackets listed: 10%, 12%, 22%, and on up to the highest bracket at 37%. But did you know that there’s also a certain amount of money you can earn that’s not taxed at all?
While there’s not an official “0% tax bracket,” the truth is that the first $14,600 you earn as a single individual (or $29,200 if you’re married filing jointly) is yours to keep tax-free, thanks to the Standard Deduction. Sure, that’s not a huge amount of money, but it’s also not insignificant, and there are ways you can use this part of the tax code to your advantage.
Find out how the “Zero-Percent Tax Bracket” can potentially benefit you in a big way with podcast host Johnny Dean and “Professor” Rick Plum, CFP® on this week’s episode of Managing Your Financial Future!
205 에피소드
Manage episode 400683480 series 3428540
If you look at the tax tables, you’ll see that there are seven different tax brackets listed: 10%, 12%, 22%, and on up to the highest bracket at 37%. But did you know that there’s also a certain amount of money you can earn that’s not taxed at all?
While there’s not an official “0% tax bracket,” the truth is that the first $14,600 you earn as a single individual (or $29,200 if you’re married filing jointly) is yours to keep tax-free, thanks to the Standard Deduction. Sure, that’s not a huge amount of money, but it’s also not insignificant, and there are ways you can use this part of the tax code to your advantage.
Find out how the “Zero-Percent Tax Bracket” can potentially benefit you in a big way with podcast host Johnny Dean and “Professor” Rick Plum, CFP® on this week’s episode of Managing Your Financial Future!
205 에피소드
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