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Get your taxes done using TurboTax
Not that..
The reason is that the tax tables cover $50 ranges ($25 if taxable income is below 3,000),and the tax only increases if you move into the next $50 range.
So if your income changes anywhere within that particular $50 range you are already in...nothing happens.
What freaks some people out is that their taxable income may be within a $1 of the next $50 range.., and adding $1 of income increases their taxes another $12. but of course, the next $49 added, nothing happens.
The jump isn't always $12, it starts at maybe $5 at the $3000 lower end of the tax tables...and is ~$12 at the $100,000 end of the table
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
‎June 4, 2019
7:24 PM