It looks like the calculator is actually calculating the effective tax rate incorrectly. If a person's income lands them in the 22% bracket, the effective rate would be less because not all of the income is taxed at that rate due to portions of the income being taxed at a lower rate. The table you shared even shows this, e.g., $10-41k is taxed at 12%. Only the income above that is taxed at 22%+.
Saving on Taxes is very important, thx!
Very nice! Thanks for sharing
Thank you! Cheers!
It looks like the calculator is actually calculating the effective tax rate incorrectly. If a person's income lands them in the 22% bracket, the effective rate would be less because not all of the income is taxed at that rate due to portions of the income being taxed at a lower rate. The table you shared even shows this, e.g., $10-41k is taxed at 12%. Only the income above that is taxed at 22%+.
Yes, that is true. The calculator is showing what Capital gains rates would be taxed at, unless I am misunderstanding you.
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