The best tax bracket explanation on KZread!

@TravisSickle

2 жыл бұрын

Thanks! If you need more financial explainer videos let me know!

@d.m.958

Жыл бұрын

I strongly agree

OUTSTANDING!!!! After all these years finally, someone has explained to me how this progressive tax is calculated. I prefer your hand written long calculations. Living in Southern (High Tax State)(Government Employee) (MAX my 457) ( Income wont allow Roth)California, I try to calculate my taxes every 3 months. Its now November, and your calculations came at the right time. Thank You for making it easer. Hopefully, I wont have to pay AGAIN in April 2021

Solid video! I enjoy the animated short clips others present, however, your video takes us deeper into the subject. You gained a 'sub' my friend!

I have learned so much from you videos then the two tax classes I paid for. Thank you for breaking it down for me to understrand.

You answered what I was looking for in the first 3 minutes. Thank you! Awesome informational video!

Thank you for making it easy to understand. I just subscribed!!

This video is underrated. Great content!

That was excellent! I liked the way you explained everything. I’m trying to learn more about my finances and investment. Thanks again. And I just subscribed!

Wow ! This was SUPER helpful ! Thank you

Perfect explanations!!! I, as a 1099 employee, have looked for information about income taxation of IRS nowadays. This video came across me at the right time. I think this is so beneficial video to understand the layout of US tax system. Thank you.

The best explanation I've found so far. The examples really help. So basically to pay less taxes, you will have to spend money on your future in terms of retirement and education. I did the w-4 calculator last year and I guess I overpaid because I am getting money back from the state.

Wow. This was very helpful. Thank you for taking the time to explain this.

Well done, very easy to understand , I subscribed, thanks.

Thank you so much. Brilliant video.

Omg. You’re an amazing teacher! Thank you!

Thank you very much. You make the complicated tax very easy as 1+1.

Thank you! Very informative.

Awesome video this helped me a lot

Absolutely excellent video

Excellent teacher, i will need to go back to your chart for reference. Thank u

@claudettenewton2773

3 жыл бұрын

Help me please, i still need a bit more teaching. It's my very first time and i really need to do myself this favour to learn more. You're the best. CN

This is just simply amazing.

very helpful, thanks

omg finally I understand...Thank you soo much!

Jeez thank you for explaining it this way man

Great video. Thank you !

Nicely demonstrated Travis.

@TravisSickle

2 жыл бұрын

Thank you!

Good job sir finaly i understand tax brackets thanks allot

thank you so much for your time ..

Great work

GENIUS!!!!! I have a better understanding

Thank you , my good Sir.

Great video!

Excellent.

Great video

so on a w2 does a traditional 401k already get taxed like ex:20000 would be wages tips and other comp. and 500 would be in a 401k at the end of 2020. The 500 would be in box 12 a.-D

excellent

Will the tax I pay every week of every pay check change as I go through the different tax brackets ? Or it will always be the same?

Good vid

Hi there! My daughther use our tax info toaply for Fafsa and she has been doing this for about a year evry 6 months. DoI have to insert this information in our taxes? We join taxes me and my husband,and we both own diferent businesses.

I cannot tell you how many times I've heard people worry about getting a raise because "it'll bump me up to a new tax bracket." I usually suggest that they tell their employer not to give them that raise (because they clearly don't deserve it).

@TravisSickle

3 жыл бұрын

Very true.

For an Uber driver who does not know what is final income will be until the end of the year, how can we use this tax bracket to our advantage to save the correct amount in taxes along the way?

Just subscribed

hi travis. just a question, in box 1 of our W2s, is that amount already the difference of our total income minus the standard deduction?

@TravisSickle

2 жыл бұрын

No, standard deduction is on your taxes.

Why you subtracted tax credit ( 2000 ), Is this was for child Tax credit or we can also subtract for each family member ?

Hello hi Travis, i wanna learn US tax how can you help me?

Correct me if I'm wrong.. I read that as of 2020, 401k tax deduction are now income based

@TravisSickle

3 жыл бұрын

They have always been an income based deduction. No change there.

I got 0% tax liability. Is that correct? $43,680 6,000 contribution 2 independents Head of Household. This is only Federal correct? Or will I get a refund on my State (5%) for earned income or child tax credits?

And that’s why my accountant told me to open an S-corp…

where do you get the online tax extimater

@TravisSickle

2 жыл бұрын

IRS.gov

Is this correct? It’s a flat rate plus a percentage 72,600 is 22%. So taxes are $4,807.50 plus 22% of the amount over $41,775 Idk if it equals out l to the same but this is not how it’s calculated

@TravisSickle

11 ай бұрын

it's just quick math to do the calculation. It's all tiered out.

I was about to Quit my $45,000 job!

So what do I file as single....1 or 2

@TravisSickle

3 жыл бұрын

Depends...need more info

Someone correct me if I'm wrong, please. He deducted the 401k contribution after he already calculated his taxable liability, but 401k contributions should be pre-tax so could he have subtracted the $8500 from the gross income of $85,000 first? I did these calculations and reached the same $9892 tax liability. I'm new to all this so any feedback is welcome.

@TravisSickle

3 жыл бұрын

Yes, the ordering is irrelevant but it’s usually how you would look at it.

@rolandosalas63

3 жыл бұрын

@@TravisSickle Awesome! Thank you and thank you for your content!

30% on my paystub single whew

How do I get a bigger paycheck

@TravisSickle

2 жыл бұрын

How to get a Bigger Tax Refund with the Roth IRA kzread.info/dash/bejne/qYlt2bGbpZzZdbA.html

@TravisSickle

2 жыл бұрын

Or this one too… IRS Form W 4 Bigger Paycheck and Lower Taxes kzread.info/dash/bejne/dmR307WOeaq9eLQ.html

@shawnfarrow1617

2 жыл бұрын

How do I claim myself like I use too I don't want to claim 0

How can I only end up paying $740 in taxes?

@sebby96xoxo

3 жыл бұрын

Only by cheating lol 😉

@kuppdaballsstrokedastaff429

3 жыл бұрын

By bringing President of USA 🇺🇸 God bless America

tax should be flat rate

@TravisSickle

3 жыл бұрын

I agree.

More money you earn more taxes u pay its simple don't trust goverment! ..