Here is How Income Taxes Actually Work! Putting an end to misinformation! :D
Let me breakdown the brackets for you here. If you are filling as a single person in 2023 you pay:
10% on $0 to $11,000
12% on $11,000 to 44,725
22% on $44,725 to $95,375
24% on $93,375 to $182,100
32% on $182,100 to $231,250
35% on 231,250 to $578,125
37% on 578,125 or more
This is federal taxes only and does not include state income taxes. The following states don't have income taxes:
Alaska
Florida
Nevada
South Dakota
Texas
Washington
Wyoming
SAVE me from California please! Oh no.... There are no Persian Kabobs in other states. Darn!
Save this video to review again when filling taxes.
#tax #incometax #personalfinance #finance