Lower Tax Bracket and Pay Less to Uncle Sam

Tax Brackets: Pay less to Uncle Sam

When it comes to life theres only two things guaranteed and thats death and taxes. Death can't be avoided but we sure can adapt our tax bracket if we are business owners or employees so we pay less.

Note: Consult a financial advisor to ensure what will best work for you. Also rates are from 2015 and i will be adjusting soon to current rates

This Right here is the Federal Tax Tax Bracket:

Federal Tax Bracket Protect Assets Today IRA

its pretty simple to use which ever is your gross (number before taxes) that will be your federal tax bracket. If someone makes about $41K and is single they are taxed 22%.

We also need to consider the California or your respective state to see your tax bracket. See below.

California Income Tax Brackets Protect Assets Today Downey CA 90242

Same person on state level will be taxed 8% in California.

Grand total of Taxes for the year would be 30%.

Below are some examples of what this individual can do with or without an IRA.

Single Person Making $41000 a year Tax Bracket lower California Federal Protect Assets today Downey CA 90242

*most mutual funds average between a 7% to 12%. Track record of performance must be verified to see how its performing.

*Numbers given on image are an over approximated value heres the actual for person making $41K per year

By adding an IRA it lowered the individuals tax bracket and allowed him to save money.

The same thing can be applied to a business owner by using an SEP IRA. See below

Business Owner Tax Bracket Write Off Protect Assets Today Downey CA 90242

*most mutual funds average between a 7% to 12%. Track record of performance must be verified to see how its performing.

*Numbers are an approximation use the same concept from above to figure out the federal tax amount.

 

To learn more, contact us

 

 

Leave a Reply

Your email address will not be published. Required fields are marked *