Tax Brackets Explained For Beginners in The USA

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[@clearvaluetax9382]

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[@dadirmirir4301]

I have question please if i made 120k how much tax should i pay

[@clearvaluetax9382]

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]

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]

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]

@@deshawnthompson5592 Yes, you can Deshawn.

[@franchello1105]

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

[@marjoriecoleman8280]

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

[@yoddy0]

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]

⏫⏫

[@anthonystone2089]

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

[@Mattlott222]

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.

[@CaseyBurnsInvesting]

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]

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

[@funtechu]

@@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]

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

[@robles100]

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]

@@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.

[@nanbolz2238]

YOU have the BEST and CLEAREST explanation so far.

[@TampaTec]

I just watched Brian's latest video. Our social security retirement that we were taxed every year gets taxed too. So we have to literally pay taxes on the same money that we already paid tax on 🤯. These Politicians are sneaky 🤦 Brian, did I sum that up correctly?

[@fr9714]

No. The social security is taken out pre tax from your paycheck. You pay tax on withdrawals which is the first time you’re paying tax on it. It’s called social security taxes but the amount is pre tax removal from your paycheck.

[@christopherc.taylor339]

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!

[@A2Trading777]

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

[@onlyyou200548]

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

[@atc562002]

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

[@4thgradedropout980]

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]

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

[@zackwoodd4606]

​@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

[@kendraylscott2748]

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. 🤜🏿💥🤛🏿💯✌🏿

[@funtechu]

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]

Thank you for adding this.

[@snaxicakes]

I was wondering about that!

[@clearvaluetax9382]

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]

@@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!

[@bvu1887]

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.

[@reread2549]

Thank you for clearly and concisely explaining tax income brackets.

[@cherryboo043]

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.

[@mangoelvis1032]

These short and basic videos are awesome! Make more please

[@lrobbins4720]

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

[@mathebulamkhize876]

Is this a good time to buy stocks? I know everyone is saying stocks are at a discount and all, but just how long will It take for us to recover, obviously there are strategies to manoeuvre in this present market but these strategies doesn't come common to the average folk, or am I better off putting my money elsewhere?

[@stjepanhauser7595]

@Scott Johnson Think you could recommend this coach that guides you, I've been looking intoo advisors myself and I'd really need guidance to scale through

[@stjepanhauser7595]

Thank you for sharing; I just Googled his name and his website came up right away. It looks interesting so far. I'm going to book a call with him and let you know how it goes.

[@joseheredia9275]

@@stjepanhauser7595 be careful with youtube comments suggesting advisors. Most of them are bots leading you into scam sites...

[@sonney8899]

@Belinda Rupp how much does it cost to hire someone like this?

[@rlg222]

I just got educated. Makes me think at one time I thought the flat tax was a good idea...Thanks Brian

[@VoquonCarter]

This was very helpful; I was doing a tax problem and got confused on how they made their numbers. This made better sense to me.

[@alishad2666]

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]

Yep he could definitely rock it as university professor👍

[@dontbeahypocrit]

Someone's looking for after school credit 😂😂

[@Chrispitos]

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 😓

[@freedomchannel6416]

Great video... last year, I went to fill out my 2021 taxes, and the person who did it never sent it to the IRS. They played me and charged me $800.00, which was something like the movie boiler room. Be careful with whom you do your taxes.. IRS sent me a letter saying that I old $ 29,000 .. last week I went to another tax guy and he told me why irs is charging me that money, well he filled out my taxes again and I only old $9,000 he explained to me the tax bracket system.... I'm an Uber driver, thanks God, I have the money saved to pay the IRS!

[@marcoshuerta7255]

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

[@allyeee]

Thank you, I am currently doing math business and crying because I could not understand :( Your video is the easiest explanation... and wow do people have it so wrong. THIS NEEDS TO BE TAUGHT TO EVERYONE.

[@IamtheGL]

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

[@ContrarianExpatriate]

I have had so many idiots over the years tell me they didn’t want to make more money so as to avoid getting into a higher tax bracket.

[@shaunlapointe5089]

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

[@wesjay7780]

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

[@bonnirose7479]

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

[@g.pimentel1195]

I am no expert, but "to be fair" the flat-tax system without deductions and loopholes should be the way to go. But, politicians will never go there. Great stuff like always!

[@Bellababe777-in2jp]

No

[@donnaolson5717]

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!

[@MT_454]

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

[@GoGeoGo]

Teaching me more than high school did. Thank you.

[@happystar2058]

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

[@sallykayekaufman5119]

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).

[@OneJuanWon]

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

[@traviswilkes6995]

Great video man so many people are wrong about this!

[@JCTVPRO]

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

[@laureenefurnari1609]

I still love your honesty with everything I generally wish we had more legitimate tax accountants out there to help us out. My daughter is 22 years old or she’s going to be 22 this month the end of the month and her tax lady has taken freaking a year and a half, and she still has not gotten her stimulus or her money, I save these videos for her to watch but as a 22-year-old she’s never home from her 45 year-old boyfriends house so it’s kind of hard to explain these things to her but they are so important. I love everything about your videos. ❤

[@clearvaluetax9382]

That’s so kind of you and you are a very good mother!

[@calvinma9493]

45-y/o? They should teach her taxes their age lol

[@adobedobedo409]

@@calvinma9493 lmao. She doesn't even know how old her daughter is. Than proceeds to tell us that her daughter has a 45 year old boyfriend, why?

[@elibankz4355]

Don't worry your daughter is a sugar baby. Sugar babies don't need to worry about tax brackets or taxes in general. Just know that her ass is getting taxed every night.

[@daveulrich4623]

I see why your daughter struggles.

[@onefixitman]

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

[@deborahdapo3210]

Thank you Brian for all the great info.

[@oldbear6813]

Absurd that they're taxing us at absolutely every turn and not by small amounts.

[@FragmentOfInfinity]

Just make more money and use legal tax avoidance loopholes

[@MaxSnowDude]

These are small amounts compared to historical rates wdym

[@michellejackson7293]

Brian the info you give the world is priceless

[@tiffanyap007]

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

[@PeteJDunn78]

Brian is at it again! I am inspired by his channel. Brian inspires me to continue my own channel on investing.

[@320mkg]

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

[@pooh4519]

God doesn't pay taxes.

[@daveswish6934]

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.

[@yup95yearsago20]

Easy to understand. Thank you Brian

[@opinionguyopinionguylast3104]

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

[@nicoleh8979]

Fantastic video, easy to understand and expertly delivered

[@davidruiz4139]

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

[@joshhoward1289]

Are you going to cover the Fair Tax Act? It would be really interesting to compare to the current tax code, flat tax and VAT tax systems (and whatever others may exist). A US history of fed taxes would be very interesting as well. Thanks for the great instructional videos.

[@fr9714]

Great intro. Next is to explain deductions and exemptions etc. so if you have an income of say $100,000 and have 24% marginal tax rate, deductions might change that

[@woodzy883]

Honestly makes me want to learn a lot more on this subject. My situation has several layers I honestly need to understand better

[@Lookin4LoveInAllTheWrongPlaces]

@@HappyCamper870 My situation is kind of like an onion. The more the government chops up my paycheck the more it makes my eyes water.😅

[@bruiz5240]

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

[@TheRandomHandyman]

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

[@_f_6957]

Your explanations are greatly appreciated! Thank you!

[@deannekroeger3178]

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

[@judazprime3281]

Thanks for all the years of advice , especially during covid

[@POMAH_MOHISH]

As always a pleasure to hearing from you 🙂

[@Cupcakemountian55]

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

[@garry1214]

Excellent video, I wish all were this good. Thank you

[@GSR978]

You explain this incredibly well! Thank you. You can lower your taxable income by contributing to your 401k/retirement accounts.

[@jtsra7]

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

[@hq200]

Thanks, saving this video to reference later.

[@erikaxchristine]

Thank you Brian! 🙏🏻

[@kdefensemartialarts8097]

Thank you for your videos.

[@awolsniper]

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 !

[@michaelminauro4180]

Very well explained

[@Sly_Mango]

Good presentation! Easy to understand. Thank you!

[@nononsense4035]

Thanks for keep us informed!!

[@RONV673]

thanks for another great video Brian!

[@larrysabo799]

Brian can you do a video on taxes for the military especially for us that are deployed oversees

[@amauryMW3]

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

[@deeh7366]

You're the man Brian!

[@alicehill4999]

Thanks for explaining 🙂

[@fongcha4933]

Very informative! Learned something new!

[@SeldimSeen1]

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

[@feefee2]

Omg thank you so much for this explanation video!

[@j.tradeforexinc.2819]

Hey Brian 👍🏾thanks for this ...

[@24kGanksta]

I did not know this thank you

[@jeanchery7246]

Thank you so much and now l know how to do it on my own ❤

[@BatmanBoss]

Thanks Brian

[@perrymattiso3772]

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

[@curie3938]

As usual, excellent !

[@CoolestRedHead]

This was great information! Thank you Brian ❤❤

[@Caligrown213]

Thank you 🙏🏿 very much for the information.

[@luvillan4641]

Thanks Brian Please make a part 2!

[@crystalowens9742]

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

[@melodyhess1683]

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

[@utkbyuca89]

Thanks Brian for your clear explanation.

[@jessefletcher9116]

simple and to the point, thank you!

[@kikiday5250]

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

[@garyhirtz4392]

Taught me something today.

[@Because4545]

Love your content. No fluff. Thank you!

[@preetisantana5639]

This was helpful. Thank you so much!!

[@PepeInvest]

I learned something new today. Thanks Brian.

[@djpookie2000]

Thank you, great explanation!

[@halo2bullseye922]

This was an incredible video and was very helpful. 37 percent of someone making over 500k goes to the government? My God that's a lot.

[@erivers71]

Brian is the best man! Thank you Brian for helping me understand this rats nest of rules! Brian = GOAT

[@ivarinbliss]

Can you make a video about the Solar Investment Tax Credit? Explain how the tax credit works and how would someone qualify for the ITC? Thanks so much Brian!