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How to Make Use of the Zero-Percent Tax Bracket
Manage episode 400683480 series 3428540
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If you look at the tax tables, you’ll see that there are seven different tax brackets listed: 10%, 12%, 22%, and on up to the highest bracket at 37%. But did you know that there’s also a certain amount of money you can earn that’s not taxed at all?
While there’s not an official “0% tax bracket,” the truth is that the first $14,600 you earn as a single individual (or $29,200 if you’re married filing jointly) is yours to keep tax-free, thanks to the Standard Deduction. Sure, that’s not a huge amount of money, but it’s also not insignificant, and there are ways you can use this part of the tax code to your advantage.
Find out how the “Zero-Percent Tax Bracket” can potentially benefit you in a big way with podcast host Johnny Dean and “Professor” Rick Plum, CFP® on this week’s episode of Managing Your Financial Future!
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