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1040 Tax Table Form

1040 Tax Table Form

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Instructions and help about 1040 tax table 2020

okay for this video i wanted to cover the individual income tax tables for 2021. so this is your form 1040 that you're going to be filing for the 2021 uh tax year right so this is the tax return that you as an individual need to file on or before april 15 2022. okay so i've got the tables in front of us two slides this is a slide with the rates and then we have a second slide where we're going into an example of how the marginal tax rate system works using these tables so as a reminder just to start the us uses a marginal tax rate system okay so when you look at these brackets below the rates that you see apply to each incremental dollar earn it doesn't apply based on where you fall within the range period so for example and i get this question all the time somebody that says well i earned forty thousand dollars 525 uh in a given tax year what if i get a raise and i'm now making 41 000 does that mean that i'm paying 22 tax overall now rather than 12. so by getting a raise i actually ea

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