From the course: Finance Foundations: Income Taxes
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Tax brackets
From the course: Finance Foundations: Income Taxes
Tax brackets
- All right, let's talk about income taxes, income tax accounting is its own specialized field. With income tax accounting, there's an important element there's an important elementof income tax compliance, of income tax compliance, you have to make sure you have to make sure thatyou are obeying the law. that you're obeying the law, there's also an element There's also an elementof income tax planning, of income tax planning, meaning that you want to try meaning that you want to tryto structure your affairs to structure your affairs so you don't have so that you don't haveto pay anymore income tax to pay any more income tax than you are legally required than you are legally required to pay. to pay and of course for you and me, And of course for you and me there's just a routine element of filling out your income tax form each year. your income tax form each year. To facilitate our discussion of income tax systems, To facilitate our discussionof income tax systems I have designed a…
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