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IRS Announces 2024 Tax Brackets

Christian, when it comes to budgeting Americans are going to need to update their plans for next year because tax laws are changing. But what exactly is different now? Yes. So Americans will see new tax brackets next year impacting the money that they owe and in some cases collect back from the government. So the IRS has announced the 2024 brackets and single individuals making less than $11,600. They'll be taxed tax 10% on income on those making $11,601 to $47,150 to be taxed. 12% income between that level and $100,000. Roughly will be 22% income between $100,000. Roughly 100 and $90,000 will be 24% and 100 and 91,000 to 243,000. That will be taxed at 32% uh income between 852,000. That will be taxed at 35% and then income above $609,000. That'll be taxed at 37%. So for married couples filing jointly, couples earning between 0 to 23,000, they'll pay a 10% rate between 23,000. Roughly and 94,000. You can look at a 12% rate. Couples earning between 295,000. That would be 2% couples making between about 201,000. 383,000. That'll be 24%. I hope you're following along. This is a lot of numbers. Ok. 383,000 to 487,000 for a couple 32%. Uh, between that $488,000 mark to about $731,000 as a couple 35%. And then above is $731,000. Roughly, uh that'll be taxed at 37%.