What Do Your Taxes Pay For?


Taxes are one of the biggest budget items for most taxpayers, yet many have no idea what they’re getting for their money. In 2017, as in recent years, Americans spent more on taxes than on groceries, clothing, and shelter combined. In fact, we worked until late April just to earn enough money to pay our [...]

What Do Your Taxes Pay For?2019-08-16T18:02:15+00:00

How Income Taxes Work


The Internal Revenue Service estimates that taxpayers and businesses spend 8.1 billion hours a year complying with tax-filing requirements. To put this into perspective, if all this work were done by a single company, it would need about four million full-time employees and be one of the largest industries in the U.S.1 As complex as [...]

How Income Taxes Work2019-08-16T17:54:58+00:00

Understanding Marginal Income Tax Brackets


By any measure, the tax code is huge. According to Commerce Clearing House's Standard Federal Tax Reporter it's up to 74,608 pages in length.¹ And each Monday, the Internal Revenue Service publishes a 20- to 50- page bulletin about various aspects of the tax code.² Fortunately, it’s not necessary to wade through these massive libraries [...]

Understanding Marginal Income Tax Brackets2019-08-16T17:36:00+00:00
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