Many major life changes, such as buying a new home, changing jobs, getting promoted, starting a business, having a child, and more, will have tax implications. But that doesn’t always mean you’ll owe more to the federal government. If you plan ahead, you can make decisions that will reduce or at least postpone the tax […]
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Tax Brackets and Statuses
How much you owe in federal income taxes is determined by many factors, but your tax bracket and status will likely have the biggest impact. Tax Brackets You pay federal income tax at one or more tax rates, or percentages, based on the tax bracket(s) you fall into. A tax bracket is a range of […]