Effective and marginal tax rates might not be familiar terms. However, they’re essential concepts to understand because they determine how much income you’ll have to fork over to the government every ...

When you file your taxes each year, figuring out how much tax you’ll owe or whether you can expect a hefty refund will be top of mind. For answers, it’s helpful to know your marginal and effective tax ...

Explore 2026 federal tax brackets and understand how your income level and filing status determine your rates. Learn tips for reducing your taxes effectively.

Your effective tax rate is a good indicator of how well you’ve been managing your tax situation. It’s smart to calculate your effective tax rate each year to help you make adjustments to your ...

Question: My wife just received a huge salary increase when she switched jobs. We are concerned that this increase will put us in a much higher tax bracket. Because we will be going into a higher tax ...

Karla Dennis, EA, MST, is CFO/CEO of the award-winning tax accounting firm KDA Inc.—specializing in tax planning. Taxes can feel overwhelming, especially when it comes to tax brackets. In this article ...

While tax season may have passed for the 2023 tax year and 2024 is coming up soon, if you're keeping an eye on your taxes for next year, you're still keenly interested in what your 2025 income tax ...

As of Jan. 1, 2025, 10 states changed their income tax codes. Nine of those states reduced their tax rates, and one no longer taxes earned income. Find out what that means for you. In 29 states and ...

It’s common practice for retirees to proportionately withdraw funds each year from their taxable and tax-deferred accounts to limit their tax liability. However, clients should also be aware that such ...