Tuesday, February 23, 2016

Tax Season Is Here

It's almost tax time again. If you missed my earlier posts on tax brackets, you can find them here:

http://www.ejdivitt.com/2014/01/do-you-know-your-tax-bracket.html (Part One: Filing Single)

http://www.ejdivitt.com/2014/01/do-you-know-your-tax-bracket-part-2.html

These are tax brackets from two years ago but the idea is the same. Multiple people at the time had been saying to me that they didn't want a raise because they didn't want to be in a higher tax bracket. That is not how it works. Getting a raise will still give you more money even if it does put you in a higher tax bracket.
These posts explain how the progressive tax brackets work and how ending up in a higher tax bracket is not going to make you poorer.

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