#taxbrackets

This video is about ten financial secrets you can learn from reading 63 finance books. The video dives into the importance of financial self-control, balancing offense and defense with your personal finances, and living within your means while also earning more. It emphasizes the power of compound returns and taking calculated risks. The video also talks about the importance of assets and liabilities, the wealth-generating potential of business ownership, and cracking the code on inflation. Thinking big and starting early are also covered as ways to achieve financial success.

The video introduces deductions as "tax magic tricks" that reduce taxable income, with the standard deduction for individuals in 2022 noted as $12,950. Viewers are encouraged to consider strategies such as starting a business, investing in municipal bonds, decluttering their portfolio, and contributing to Health Savings Accounts or retirement plans (e.g., traditional IRA, 401K/403b) before the tax filing deadline to reduce taxes. Additionally, the speaker suggests timing expenses, making charitable donations, deducting business travel expenses, and claiming tax credits to further minimize taxes and maximize benefits. Overall, the video offers practical advice for viewers to effectively manage their taxes and optimize their financial situation.

✅ Have you been wondering how to figure out your tax bracket? In today's video, I'm going to teach you about tax brackets and how to figure yours out.

URGENT NOTICE: “...Effective July 1, 2019, the first tax band will be $50,000 at a rate of 12.5% ... the second tax band is on taxable income over $50,000 which is charged a rate of 33.5%...” “...As of January 1, 2020, the rate of 33.5% on taxable income over $50,000 will drop to 28.5%...” Note: a) Employers and employees are reminded that effective July 1, 2019 the 40% rate is discontinued. b) Taxpayers and employers are advised that with effect from Income year 2019 the child allowance will no longer be granted. Therefore, any person who filed a declaration with their employer claiming the child allowance must file a revised declaration excluding the child allowance so that the correct deductions can be made from their emoluments. #TheChaseFiles #HoldingGovernmentAccountable #Tamis #taxbrackets #childallowance #taxableincome #taxbands https://www.instagram.com/p/Bzqn7DkAO2H/?igshid=1909tylvmysj1

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