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Tax Brackets

Tax Brackets

In the American tax filing system, we use tax brackets to determine the amount of taxable income someone owes, and at what percent. There are seven total tax brackets. A common misconception of tax brackets is that you pay the percent calculated for your total taxable...
The Importance of Individual Tax Planning

The Importance of Individual Tax Planning

In 1993 Willie Nelson created an album called “The IRS Tapes: Who Will Buy My Memories” which was a creative accommodation the IRS allowed for him to pay back his $16.7 million tax bill. The trouble began when the IRS had deemed the tax shelters his accountants had...