here is a table showing the current 2017 tax brackets
How many lifelong taxpaying adults think it works
“It’s better to make $91,900 than $91,901 because that extra dollar will move you into the next tax bracket”
How it actually works
Every dollar you make is taxed at its respective tax rate. So currently the first $9,325 you make is taxed at 10%, the dollars from $9326 to $37,950 are taxed at 15% and so on.
So in the previous example, only that extra $1 would be taxed at the higher rate, not the entirety of your income.
Tl;dr
It is always better to make more money
YSK: The idea of moving up a tax bracket and making less money is a myth
![YSK: The idea of moving up a tax bracket and making less money is a myth]()
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