3 ms·
Do you understand that crossing into a higher tax bracket does not mean you pay higher taxes on the whole income? You pay the higher tax rate only on the money
by thedougd 4y ago
Do you understand that crossing into a higher tax bracket does not mean you pay higher taxes on the whole income? You pay the higher tax rate only on the money earned in the higher bracket. I frequently encounter people who do not correctly understand marginal tax brackets.