re: Tax bracket

quote:

---

This means that my 15% tax rate will bump up to 25% meaning ill actually be making less ... Correct ? If so can I do anything different as claiming goes so this doesn't happen or am I fricked ? Doesn't make sense . Thanks

---

No. Our tax system is progressive.

You are taxed at 15% for all money at or below the set limit (I don't know what it currently is).

Then, any money above that limit is taxed at the next highest rate until it reaches the next limit.

For example. Say you make 38k, and the limit is 35k.

The first 35k will be taxed at 15%. The next 3k will be taxed at 25%.