Reminder: Khan Academy still has basic explanations on taxes in the U.S. This should help you with understanding tax brackets, deductions, and other related information.

[u/zonination]

Basically a repost from last year, but I felt the need to remind people that this resource exists. There are some simple explanations of tax law in the U.S. over at Khan Academy. Here are a couple links:

• Introduction to Tax Brackets
• Introduction to Deductions
• A link to all lessons in the Tax Portal

And since retirement accounts tie into deductions:

• Link to the Retirement Accounts lessons

Let me know if there's anything related I should add to this list. Happy filing!

[u/[deleted]]

People who don't understand tax brackets are my pet peeve.

"IF I EARNED TEN DOLLARS MORE, I'D ACTUALLY EARN LESS AFTER TAXES."

NO. LEARN HOW A THING WORKS BEFORE YOU BITCH ABOUT IT.

[u/hotchrisbfries → u/[deleted]]

What does Bill Gates and I have in common?

We both get taxed the same amount for the first 50,000 we make.

[u/[deleted] → u/hotchrisbfries]

Well since 100 percent of Bill's income is capital gains, he gets taxed at a flat 15 percent.

[u/NOTorAND → u/[deleted]]

If he's making over 400k in gains it's actually 20%. http://www.schwab.com/public/schwab/nn/articles/Taxes-Whats-New