Worth It

As anyone who has ever filed income taxes can tell you, you have to know which tax bracket you’re in before you can make even an educated guess of what you might owe Uncle Sam. It’s pretty easy to figure out your tax bracket because it’s based on your income, but it’s trickier to calculate how much you’ll actually owe because of the way the U.S. tax system works. For this episode, Dustin and I created an easy-to-understand tax reference guide! Here’s What You’ll Learn [0:45] Let’s talk taxes, specifically, the tax brackets [1:30] Download our tax reference guide! [3:00] Determining your adjusted gross income [5:00] How do deductions work? [7:45] [9:00] Understanding the progressive tax rate [10:30] Tax credits are a dollar for dollar deduction [12:30] Disclaimer [14:45] Worth It Inspirations What is ‘taxable income?’ The IRS says income can be in the form of money, property or services you receive in the tax year. The two basic types of income are earned and unearned income. Earned income includes money you