That pesky invisible 27% marginal federal rate gets people fairly often.OK, Klang I see it. The 24% rate is quite broad enough to contain any of my small adjustments.
But don't forget about what jebmke said - it depends on what type of income. An extra dollar of salary or interest will not get taxed the same as an extra dollar of capital gain or qualified dividend.
And in addition to state taxes, you could lose PTC money if you're on ACA.
Best way is to use software (I have a spreadsheet) and enter the additional income, and see what the net change is.
And I have had to explain to many taxpayers the marginal tax hammer as their SS gets increasingly taxed as they make more money.
Statistics: Posted by jebmke — Mon Apr 08, 2024 2:19 pm — Replies 8 — Views 212