January 2023 newsletter
Bạn có thể đọc tiếng Việt ở đây. Happy Lunar New Year to you! From now on, the monthly newsletter from Milky Way Retirement will focus on the questions my clients asked me during the last year. I answered them all via video call or chat, but now I'll put them in writing so that others can benefit from them also. This January will start with questions about Individual Income tax. Although we get tax return forms every year, it may be hard for some to understand the difference among tax terms like marginal tax rates, effective tax rates, or tax brackets. I am not ambitious to be a CPA, but I hope this newsletter can give you a basic view of your tax landscape. The Federal income tax has seven levels of tax rates, which are known as marginal tax rates : 10%, 12%, 22%, 24%, 32%, 35%, and 37%. It's obvious that the more income you have, the higher tax rate is applied. It also depends on your marriage status: single or married. Source So, how is your income tax...