Tax Brackets Explained For Beginners in The USA

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15 янв 2023

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Комментарии : 492

@clearvaluetax9382 6 месяцев назад

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@clearvaluetax9382 Год назад

Just to clarify because some people are confused and they're saying that I did not mention "the standard deduction". This video is about how "tax brackets work", not about "how taxes work". The starting point for tax brackets is "taxable income" not gross/total income (total income minus deductions = taxable income). I will make a video about "how taxes work" in addition to this video about "how tax brackets work".

@deshawnthompson5592 Год назад

Hey Brian if you are living in the same house with your wife and no children is it legal to do married filing separately.... can you please make a video on that?

@me-necryptops4904 Год назад

Can you explain this. I have a friend whom pays no taxes on her check for 3 months gets all her income earnings and than goes back on deductions on her income

@clearvaluetax9382 Год назад

@@deshawnthompson5592 Yes, you can Deshawn.

@franchello1105 Год назад

@@deshawnthompson5592 why would this be better than married filing joint?

@marjoriecoleman8280 Год назад

Hi Brian, Kristyn Alexis sent me to your channel. Thanks for the break down and explanation. It was very simple and easy to understand! ❤️

@yoddy0 Год назад

I as a 22 year old student had to teach my parents that not all the money gets taxed at the same rate. This stuff is so crucial to know.

@clearvalue23 Год назад

⏫⏫

@anthonystone2089 Год назад

Now you can just send people this video and save yourself some time and energy.

@Mattlott222 6 месяцев назад

It's a huge blow for me getting into that 22%. On top of all the other taxes/deductions I get close to 30% total taken from me.

@shipped_my_pants_3000 Год назад

They shouldn't take out 22% until you reach 100,000. That's a hundred percent increase in taxes for the middle class comparative to the poverty level. They literally want to keep the poor poor

@connorbourgeois Год назад

2 years ago I started making $100k+ a year, and I gotta tell you it doesn't feel like I'm really "taking home" more than when I was making far less. I manage my money well, too. Of course I buy some more things, and I rent an apartment now, but holy hell it feels hopeless when I consider that if I didn't have my partner to also utilize their income to built wealth, I would probably never have a chance at fairly "early" retirement.

@TheHalfjackson Год назад

The people at the poverty level think it’s fair, just like you think it’s fair to tax more for the bracket above you. And all the taxes collected and spent over the last 60 years haven’t reduced poverty even slightly.

@doomslayerforever2858 Год назад

getting married helps

@shipped_my_pants_3000 Год назад

@@TheHalfjackson your thinking is wrong there. Inflation has changed the poverty level. Now people making 50,000 a year struggle way more to live comfortably

@jacobg8640 Год назад

After you factor in my state taxes and social security taxes that I likely won't benefit from, that's 35-38% of my every dollar gone after 54k.

@nanbolz2238 Год назад

YOU have the BEST and CLEAREST explanation so far.

@kendraylscott2748 Год назад

Thank you for breaking this info down in layman's terms for us Brian. You really are a God send bro. We need more ppl out here like you that are willing to help all of us lesser guys out. I watch almost every video you put out. Thanks for keeping us informed. We really appreciate it. 🤜🏿💥🤛🏿💯✌🏿

@bvu1887 Год назад

Thank you so much Brian, been following you for 2 years now and I have learned so much from you than my 16 years of schooling.

@A2Trading777 Год назад

Thank you sir for your wise choice in teaching the masses about things basic school dosent.

@onlyyou200548 Год назад

because a decent highschooler knowing how to multiply should be able to look this up. School should not teach everything.

@atc562002 Год назад

@@onlyyou200548 your wrong, why not teach it in school?

@4thgradedropout980 Год назад

Whichever school each of you attended apparently did not teach basic tax code OR grammar. Poignant remarks marred by poor spelling and shoddy grammar.

@bigwilly43729 Год назад

@@atc562002 Because learning how percentages work is more important. If they can't do that, then this information is useless.

@zackwoodd4606 8 месяцев назад

@bigwilly43729 I love when people try to justify public schools teaching nonsense rather than useful knowledge simply because "they can't teach everything." But when parents pay hundreds out of pocket every year for school, and most school systems have very generous budgets, they suitor be taking care of everything the kids need to learn but they don't

@awolsniper Год назад

im 23 yrs old and getting ready to start a software engineering job and i am so glad i found this page because not only does it educate me on everything financial, but it will help me stay disciplined in terms of how i should be spending my money, thank you so much for your work !

@reread2549 Год назад

Thank you for clearly and concisely explaining tax income brackets.

@OneJuanWon Год назад

Best explanation of how tax brackets are structured - easy to understand and concise.

@wesjay7780 Год назад

This video was awesome! Well-crafted, and thought-out; it was cool that you added in the animations to display the information.

@lrobbins4720 Год назад

Awesome job explaining to people that didn’t have this information! Have a great day Everyone!!!

@mangoelvis1032 Год назад

These short and basic videos are awesome! Make more please

@IamtheGL Год назад

Thank you for the upload Brian, you're always making sure we're well informed!

@marcoshuerta7255 Год назад

Brian, thank you for always delivering clear and concise overviews of our current economy and other personal financial talking points.

@cherryboo043 Год назад

Thank you for this. I hope ppl that didn’t understand this before now will. I’ve heard ppl refusing raises or overtime bc they were afraid it would put them in a higher tax bracket.

@christopherc.taylor339 Год назад

This was unbelievably simple and easy to understand. I just did the numbers on MY own and got the same breakdown. I cannot wait till your "How Taxes Work" video releases! Thank you!

@CaseyBurnsInvesting Год назад

I have too many people saying they don’t want to work overtime because it will raise their taxes. Thanks for the evergreen breakdown.

@Tien1million Год назад

The hours you worked overtime do have a higher tax rate. *This statement is wrong, after further research.*

@funtechu Год назад

@@Tien1million No they don't. They may be withheld at a different rate, but they are still taxed as ordinary income. So if they are withheld at a higher rate you would just get the money back at tax refund time (or you could adjust your W4 witholding if you don't want to wait).

@funtechu Год назад

I genuinely wonder how much productivity nationwide is being lost because of people not understanding their taxes.

@robles100 Год назад

Isn't that dumb? It is just annoying to hear people always winning about not wanting to work overtime because of the higher taxes they would have to pay.

@Tien1million Год назад

@@funtechu Guess I'll need a new tax guy, because I never got any of those tax back. Every time I work overtime my paycheck show I'm at a higher bracket. When I was doing 12-16 hours day my pay was not twice as much as when I was doing 8. Wasn't worth it, I can stay a little frugal and have way more time with family and friends.

@purtnellus Год назад

Brian, thank you so much for clarifying this to us. All my life I’ve been so curious as to how I don’t owe on my taxes each year, and now it’s starting to make some sense!

@alishad2666 Год назад

You’re such a great teacher. I swear whenever you say have a nice day it warms my heart 💛 thank you for all of the content that you push out on a regular basis. It’s much appreciated!

@thesam7665 Год назад

Yep he could definitely rock it as university professor👍

@dontbeahypocrit 6 месяцев назад

Someone's looking for after school credit 😂😂

@SeldimSeen1 Год назад

Thank you so much for making these videos. No one has ever explained this to me. You are a doll.

@chrispitos Год назад

Wow thanks for this, I was taught that the wrong way you mentioned…. Thinking I didn’t want to go to the next tax bracket 😓

@_f_6957 Год назад

Your explanations are greatly appreciated! Thank you!

@deborahdapo3210 Год назад

Thank you Brian for all the great info.

@deannekroeger3178 Год назад

Thanks, Brian for the update 😃 ❤️ and Have a very nice day too 👋

@weisun957 Год назад

Thanks for telling. That helps me a lot. I misunderstood the tax brackets before this video. Thanks again.

@donnaolson5717 Год назад

Another great video that simplifies financial information. The kids ask me and I try to explain and I think I just make it too complicated and they walk away more confused than when they asked the question. Awesome job!

@crystalowens9742 10 месяцев назад

Thank you so much!! This video was very helpful!!

@amauryMW3 Год назад

Amazing video! Very simple and easy to understand. Hope you do more.

@yup95yearsago20 Год назад

Easy to understand. Thank you Brian

@kikiday5250 Год назад

Thank u Brian. You always make informative videos. Have a great day🌻

@shaunlapointe5089 Год назад

I love how you explain things. I don't care if I didn't get it before for whatever ignorance I have, like Tony Little YOU break down the steps and I just get it..Cheers boss

@DellaHeil Год назад

Thank you Brian for sharing.

@paullemiremusic3101 Год назад

Appreciate the video about this. Cleared things up

@davidruiz4139 Год назад

EVERY video you make is so clearly articulated... I always learn something when you post--

@onefixitman Год назад

I never understood this. Great video. Thank you for taking the time to make all these videos to help us make smart decisions.

@bruiz5240 Год назад

Thank you again Brian for another informative video🙋‍♀️🥰❤🙏

@happystar2058 Год назад

Thanks Brian, I'll share the info to my brother 🙂 Have a nice weekend everyone

@Sly_Mango Год назад

Good presentation! Easy to understand. Thank you!

@nononsense4035 Год назад

Thanks for keep us informed!!

@RONV673 Год назад

thanks for another great video Brian!

@erikaxchristine Год назад

Thank you Brian! 🙏🏻

@Dookie77 Год назад

LOVE these kind of teaching videos. More like these please!!! Love your other videos too though

@lg07632 Год назад

Thank you Brian! Learned so much from you!

@funtechu Год назад

Good breakdown. One other thing that people are often confused about is they think "taxable income" is the same as your income. However, your taxable income is after either your itemized deductions or standard deduction is subtracted. So effectively at least the first $12,500 of your income is taxed at 0% which means your effective tax rate is even lower.

@pooh4519 Год назад

Thank you for adding this.

@snaxicakes Год назад

I was wondering about that!

@thomashuang8401 Год назад

Also standard deduction gets increased every year too

@clearvaluetax9382 Год назад

Hi Caleb, this video is about tax brackets, not "how taxes work". The starting point for tax brackets is "taxable income" not gross income. I will make a video about "how taxes work" in addition to this video about "how tax brackets work".

@funtechu Год назад

@@clearvaluetax9382 Yeah no worries. Just pointing out that a term like "taxable income" that us CPAs and tax professionals take for granted is opaque to people who don't understand the distinction. Keep up the good work!

@djpookie2000 5 месяцев назад

Thank you, great explanation!

@sallykayekaufman5119 6 месяцев назад

Thank you! Using your video for my personal finance unit on taxation. Then we will go to the IRS "Understanding Taxes" simulations (even though they are old and could use an update).

@amrice62 Год назад

Thanks for your easy to understand visual + explanation. Can you talk more about the tax is it based on gross or net?

@feefee2 Год назад

Omg thank you so much for this explanation video!

@daveswish6934 Год назад

Great video and yeah I agree with someone below suggesting you make a video filing single ,married or head of household within these brackets. Thanks for the content.

@hannaJardin Год назад

Thank you do much for this helpful video!

@kdefensemartialarts8097 Год назад

Thank you for your videos.

@CoolestRedHead Год назад

This was great information! Thank you Brian ❤❤

@POMAH_MOHISH Год назад

As always a pleasure to hearing from you 🙂

@amberbergquist596 Год назад

I was just trying to figure this out last night.. had no clue your awesome thanks

@oyazkee6399 Год назад

really great info. thank you sir!

@j.tradeforexinc.2819 Год назад

Hey Brian 👍🏾thanks for this ...

@preetisantana5639 6 месяцев назад

This was helpful. Thank you so much!!

@jtsra7 Год назад

Thanks Brian! This is a good one for educational reference. Keep up the excellent content!

@florenciocastillo4315 Год назад

Great video Brian 👏🏽 you always do an exellent Job.

@fongcha4933 Год назад

Very informative! Learned something new!

@MT_454 Год назад

I was confused about this year about filing jointly or separate, but this mostly explains everything, you’re the man 🅱️rian!

@perrymattiso3772 Год назад

Thanks Brian you are one of the Best. We Appreciate you🙏✌️

@opinionguyopinionguylast3104 Год назад

Now I get it. Thanks Brian. You’re da man

@humbertotalavera3414 Год назад

Thanks for the info

@melodyhess1683 Год назад

Thank you! You always lead us to the right path ❤❤❤

@micheleervin3151 Год назад

Once again good stuff Brian thank you

@micheleervin3151 Год назад

@ClearValueTax82_ you are such a blessing Brian but I do have a question do they tax social security the same as they tax a paycheck?

@gregorycyr9272 Год назад

Thanks Brian you do great work.

@TheBoringLameInvestor Год назад

Love your content. No fluff. Thank you!

@utkbyuca89 Год назад

Thanks Brian for your clear explanation.

@lemhendrix Год назад

Very helpful Thanks!

@judazprime3281 Год назад

Thanks for all the years of advice , especially during covid

@mwadjumamukamfizi2216 Год назад

Thanks for this video

@alicehill4999 Год назад

Thanks for explaining 🙂

@jessefletcher9116 11 месяцев назад

simple and to the point, thank you!

@curie3938 Год назад

As usual, excellent !

@hq200 Год назад

Thanks, saving this video to reference later.

@Caligrown213 Год назад

Thank you 🙏🏿 very much for the information.

@tiffanyap007 Год назад

Wow thanks for these nuggets. I had no idea. Over 30 yrs paying taxes and never knew. 😊💥👍🏾

@michellejackson7293 Год назад

Brian the info you give the world is priceless

@lilacbirman Год назад

Well that was very informative. Thank you!

@Googlename699 11 месяцев назад

Thank you for your video. It is very helpful. Laith

@paulfredrickson2181 Год назад

Thank you Brian, very informative and you didn't have to slam a pice of paper at all!

@GoGeoGo Год назад

Teaching me more than high school did. Thank you.

@escalade8759 Год назад

Awesome! Thanks!

@howgamer365 Год назад

This was very helpful. Thank you.

@lilo4518 Год назад

Thanks for the breakdown

@traviswilkes6995 Год назад

Great video man so many people are wrong about this!

@deeh7366 Год назад

You're the man Brian!

@MrKHAILEE Год назад

Thanks for the information

@TheRandomHandyman 7 месяцев назад

One of the most informative videos I have watched in my life thanks for the breakdown bro

@bonnirose7479 Год назад

Very helpful! I thought all income is taxed on the highest bracket within my total income. Thank you so much. 🙂

@tmlstudioDJKR Год назад

I was trying to explain this to a co worker and I was given a crazy look like I was wrong. Thank you you this

@320mkg Год назад

You are doing the lord's work! I gave up trying to explain this to people years ago.

@pooh4519 Год назад

God doesn't pay taxes.

@PepeInvest Год назад

I learned something new today. Thanks Brian.

@michaelminauro4180 Год назад

Very well explained

@JCTVPRO Год назад

I am always learning something new when I watch your videos.

@luvillan4641 Год назад

Thanks Brian Please make a part 2!

@scottiecrook7898 Год назад

You made this fun and enjoyable! 😬😊