It’s a quip you hear often when the lottery jackpot creeps upward: “Sure the jackpot is $40 million, but what do they leave you after taxes?” Honestly, on a jackpot this high, the answer is more than enough. But the exact amount depends on several factors, including your tax bracket. Before you start daydreaming about … Read more
Getting married can change your life in a myriad of ways, and one of those changes will be in how you do your taxes. Much like your marriage itself, your new tax picture can provide many benefits and perks. Things won’t always be sunshine and roses, though. If you’re not careful, getting married and filing … Read more
In this article we explain the difference between marginal tax rate and effective tax rate. Learn what each is used for and gain a clear understanding about how much of your income is truly expected to be paid by the IRS. What is the Effective Tax Rate? Calculated by dividing your total tax liability by … Read more
