| city to city eating food mostly | DM for Collab
Arkansas, USA
Joined July 2014
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I will be sleeping like a baby come Jan it’s good 😈
THE IRS JUST RELEASED THE NEW 2027 🇺🇸 TAX BRACKETS. HERE'S HOW THEY WORK IN PLAIN ENGLISH
Every bracket got a little bigger to keep up with inflation, so you can earn a bit more before moving into a higher rate.
Step 1: Take what you earn and subtract the standard deduction. That part isn't taxed at all.
- Single: $16,600
- Married: $33,200
Step 2: Whatever's left gets taxed in layers.
Single filers:
- 10% on your first $12,800
- 12% on income up to $52,025
- 22% up to $109,125
- 24% up to $208,325
- 32% up to $264,550
- 35% up to $661,375
- 37% on anything above that
Married couples: the cutoffs are roughly double ($25,600, $104,050, $218,250, $416,650, $529,100, $793,650).
Example: You're single and earn $76,600. Subtract $16,600 and you're taxed on $60,000.
- 10% on the first $12,800 = $1,280
- 12% on the next $39,225 = $4,707
- 22% on the last $7,975 = $1,755
Total: about $7,742 in federal income tax, or roughly 10% of what you earned.
Even though you're "in" the 22% bracket, only your last $7,975 gets taxed at 22%.
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Bro, college basketball being fully back today completes the holy quinfecta.
NBA
NFL
CBB
CFB
NHL
🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥
#SPORTS
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