What do the 2024 changes to the federal tax brackets mean income taxes simplified

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Does tax talk make you want to stick your head in the sand? Poke your eyes out? Unfriend the IRS? In this video, I talk plainly about the U.S. federal income tax system and explain tax rates, tax brackets, and taxable income. This includes the updates 2024 federal tax brackets. • I also highlight some feedback from members of our community, including ‪@CocoonCast-Rebekah‬, ‪@sandrahoule8090‬, and ‪@krystalk6483‬. Thanks for watching and for leaving some great comments! • ******************************** • For a full explanation of the changes to the tax brackets, click on the link below for resources from the Internal Revenue Service (IRS). • https://www.irs.gov/pub/irs-drop/rp-2... • ******************************** • TIME CODES • 0:00 Intro • 0:33 What's an income tax? • 0:53 What goes into calculating your income tax? • 1:11 Progressive tax system • 1:39 Tax brackets explained • 2:09 Marginal tax rate vs. effective tax rate • 2:37 Taxable income tax deductions • 3:39 New tax brackets for 2024 • 4:21 Community feedback • ******************************** • 👋🏻 FIND ME ON SOCIAL • 🌍 Website: www.themoneyauntie.com • 📸 Instagram: www.Instagram.com/themoneyauntie • *f* Facebook: www.facebook.com/@themoneyauntie • *X* Twitter: [www.twitter.com/]( / the)@themoneyauntie • ******************************** • DISCLAIMERS DISCLOSURES • Any and all information provided in this content is provided for educational or informational purposes only and is not to be relied upon as professional opinion. Mel or The Money Auntie does not provide tax or investment advice. The information being presented does not consider the investment objectives, risk tolerance, or financial circumstances of any viewer and therefore might not be suitable for all individuals. • This description may contain affiliate links for products mentioned in the video or on this channel. We may receive a commission if you make a purchase after clicking on one of these links, but they are at no cost to you. Thank you for your support!

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