Comments on: Don’t worry about hitting the next tax bracket http://www.mightybargainhunter.com/2009/04/04/dont-worry-about-hitting-the-next-tax-bracke/ Personal finance, commentary, and spending less the easy way Fri, 19 Mar 2010 14:24:44 -0400 http://wordpress.org/?v=2.8.6 hourly 1 By: BethBeth http://www.mightybargainhunter.com/2009/04/04/dont-worry-about-hitting-the-next-tax-bracke/comment-page-1/#comment-175148 BethBeth Thu, 09 Apr 2009 20:43:47 +0000 http://www.mightybargainhunter.com/?p=1483#comment-175148 Well, now I am worried! This is the last year I get to file Head of Household, under $45,500. Next year, I will be filing single and I make more than the $33,950 limit! I guess it is a good thing that I know this now! Well, now I am worried! This is the last year I get to file Head of Household, under $45,500. Next year, I will be filing single and I make more than the $33,950 limit! I guess it is a good thing that I know this now!

]]> By: Stacey http://www.mightybargainhunter.com/2009/04/04/dont-worry-about-hitting-the-next-tax-bracke/comment-page-1/#comment-175062 Stacey Wed, 08 Apr 2009 19:25:17 +0000 http://www.mightybargainhunter.com/?p=1483#comment-175062 I agree, this column should be required reading. My husband and I had this same discussion with friends the other day - his friend is afraid of hitting the next tax bracket and wants to refuse a promotion. Every American should be required to calculate their taxes by hand at least once. I have to do it four times a year for estimated taxes, and using tax tables really drives home the meaning of tax brackets. Tax preparers and tax software have really removed a lot of "common sense" knowledge from our annual tax returns. I agree, this column should be required reading. My husband and I had this same discussion with friends the other day – his friend is afraid of hitting the next tax bracket and wants to refuse a promotion.

Every American should be required to calculate their taxes by hand at least once. I have to do it four times a year for estimated taxes, and using tax tables really drives home the meaning of tax brackets. Tax preparers and tax software have really removed a lot of “common sense” knowledge from our annual tax returns.

]]> By: Retired Syd http://www.mightybargainhunter.com/2009/04/04/dont-worry-about-hitting-the-next-tax-bracke/comment-page-1/#comment-174763 Retired Syd Sun, 05 Apr 2009 15:52:27 +0000 http://www.mightybargainhunter.com/?p=1483#comment-174763 Gosh I hope everyone reads this post. It bothers me to no end that people don't understand this. I guess I take it for granted because I was a tax professional for 22 years. But especially during the debate on U.S. Tax policy--people like Joe the Plumber leading the discussion about how he doesn't want to own his own plumbing business because his taxes will go up!. Yeah, maybe on that little amount that puts him in the highest bracket, if he's THAT successful. There are worse things in life than being that financially successful. This misconception is a perfect example of penny-wise and pound foolish. Gosh I hope everyone reads this post. It bothers me to no end that people don’t understand this. I guess I take it for granted because I was a tax professional for 22 years.

But especially during the debate on U.S. Tax policy–people like Joe the Plumber leading the discussion about how he doesn’t want to own his own plumbing business because his taxes will go up!. Yeah, maybe on that little amount that puts him in the highest bracket, if he’s THAT successful. There are worse things in life than being that financially successful.

This misconception is a perfect example of penny-wise and pound foolish.

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