|
The Motley Fool Discussion Boards
|
Previous Page | |
|
Financial Planning / Tax Strategies |
||
|
URL:
http://boards.fool.com/it-appears-that-if-i-earn-enough-to-push-my-25322226.aspx
|
||
| Subject: Re: Penalty for reaching next tax bracket? | Date: 3/23/2007 4:48 PM | |
| Author: snippee | Number: 93234 of 118606 | |
|
It appears that if I earn enough to push my income over $61,300... One last thing to add to the excellent explanations of how the tax brackets work: They are figured on taxable income, not gross. IOW, it's your income (salary, capital gains, etc.) less any adjustments and/or deductions (pre-tax retirement contributions, student loan interest, exemptions, etc.) So, if your salary is nearing $61,300, you're still probably a ways away from the next tax bracket. |
||
| Copyright 1996-2013 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us | ||