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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

Жыл бұрын

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

Жыл бұрын

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

Жыл бұрын

@@deshawnthompson5592 Yes, you can Deshawn.

@franchello1105

Жыл бұрын

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

@marjoriecoleman8280

Жыл бұрын

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

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

Жыл бұрын

⏫⏫

@anthonystone2089

Жыл бұрын

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

@Mattlott222

6 ай бұрын

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.

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

Жыл бұрын

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

Жыл бұрын

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

Жыл бұрын

getting married helps

@shipped_my_pants_3000

Жыл бұрын

@@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

Жыл бұрын

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.

YOU have the BEST and CLEAREST explanation so far.

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. 🤜🏿💥🤛🏿💯✌🏿

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.

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 !

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

@onlyyou200548

Жыл бұрын

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

@atc562002

Жыл бұрын

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

@4thgradedropout980

Жыл бұрын

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

Жыл бұрын

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

@zackwoodd4606

8 ай бұрын

​@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

Thank you for clearly and concisely explaining tax income brackets.

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

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

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

These short and basic videos are awesome! Make more please

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

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

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.

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!

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

Жыл бұрын

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

@funtechu

Жыл бұрын

@@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

Жыл бұрын

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

@robles100

Жыл бұрын

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

Жыл бұрын

@@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.

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!

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

Жыл бұрын

Yep he could definitely rock it as university professor👍

@dontbeahypocrit

6 ай бұрын

Someone's looking for after school credit 😂😂

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

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 😓

Your explanations are greatly appreciated! Thank you!

Thank you Brian for all the great info.

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

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

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!

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

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

Easy to understand. Thank you Brian

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

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

Thank you Brian for sharing.

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

Appreciate the video about this. Cleared things up

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

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

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

Good presentation! Easy to understand. Thank you!

Thanks for keep us informed!!

thanks for another great video Brian!

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

Thank you Brian! 🙏🏻

Thank you Brian! Learned so much from you!

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

Жыл бұрын

Thank you for adding this.

@snaxicakes

Жыл бұрын

I was wondering about that!

@thomashuang8401

Жыл бұрын

Also standard deduction gets increased every year too

@clearvaluetax9382

Жыл бұрын

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

Жыл бұрын

@@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!

Thank you, great explanation!

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).

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

Omg thank you so much for this explanation video!

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.

Thank you do much for this helpful video!

Thank you for your videos.

This was great information! Thank you Brian ❤❤

As always a pleasure to hearing from you 🙂

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

really great info. thank you sir!

Hey Brian 👍🏾thanks for this ...

This was helpful. Thank you so much!!

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

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

Very informative! Learned something new!

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

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

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

Thanks for the info

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

Once again good stuff Brian thank you

@micheleervin3151

Жыл бұрын

@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?

Thanks Brian you do great work.

Love your content. No fluff. Thank you!

Thanks Brian for your clear explanation.

Very helpful Thanks!

Thanks for all the years of advice , especially during covid

Thanks for this video

Thanks for explaining 🙂

simple and to the point, thank you!

As usual, excellent !

Thanks, saving this video to reference later.

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

Thank you 🙏🏿 very much for the information.

Brian the info you give the world is priceless

Well that was very informative. Thank you!

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

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

Teaching me more than high school did. Thank you.

Awesome! Thanks!

This was very helpful. Thank you.

Great video man so many people are wrong about this!

Thanks for the breakdown

You're the man Brian!

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

Thanks for the information

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

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

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

@pooh4519

Жыл бұрын

God doesn't pay taxes.

I learned something new today. Thanks Brian.

Very well explained

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

Thanks Brian Please make a part 2!

You made this fun and enjoyable! 😬😊