tax bracket
Earnings-based rate category
A tax bracket is a range of income taxed at a particular rate within a progressive tax system.
As income rises, it moves through successive brackets, each taxed at a higher percentage.
Only income within each bracket is taxed at that bracket's rate—a common misconception is that entering a higher bracket raises the rate on all income.
Moving into a higher tax bracket doesn't mean your entire salary gets taxed more.
IRS household classification
- head of householdFamily's chief decision-maker
- taxable incomeEarnings subject to taxation
- adjusted gross incomeEarnings after initial subtractions
- thresholdPoint of beginning
cutoff · phase-out · middle class · IRS
Favoring reform and innovation
- regressiveReverting to earlier stages
- redistributionSharing out again differently
- equityImpartial treatment or ownership value
- fairnessJust and equal treatment
inequality · reform · loopholes · wealthy · means-tested · socioeconomic · disparity · revenue
Earnings before any deductions
- net incomeProfit after all deductions
- deductionsConclusions from reasoning
- exemptionsReleases from obligation
- creditsUnits toward graduation
standard deduction · itemize · adjustments · earned income · unearned income · withholding · allowances · dependent
filing status
IRS household classification
- head of householdFamily's chief decision-maker
- taxable incomeEarnings subject to taxation
- adjusted gross incomeEarnings after initial subtractions
threshold · cutoff · phase-out · middle class · IRS
progressive
Favoring reform and innovation
- regressiveReverting to earlier stages
- redistributionSharing out again differently
- equityImpartial treatment or ownership value
fairness · inequality · reform · loopholes · wealthy · means-tested · socioeconomic · disparity · revenue · fiscal policy
gross income
Earnings before any deductions
- net incomeProfit after all deductions
- deductionsConclusions from reasoning
- exemptionsReleases from obligation
credits · standard deduction · itemize · adjustments · earned income · unearned income · withholding · allowances · dependent · refund
- German taxation
- financial termswealth, asset, currency, balance sheet, audit
- taxeswithholding, VAT, GST, customs duty, FICA
- taxationtaxable income, VAT, withholding, deductions, deduction
- business taxesdeductions, taxable income, business income, exemptions, credits
- income taxtaxable income, deductions, IRS, Form 1040, withholding
tax bracketflat tax
Single-rate income levy
flat rate · regressive tax · poll tax · head tax · sales tax
tax brackettax exemption
Freedom from governmental levies
tax-exempt status · tax-free · non-taxable income · tax haven · tax holiday
tax, taxing, bracket, taxed, taxes, taxation, bracketed, untaxed, bracketing