November 7, 2019

Ep. 47 Taxation for regular folks

Jeremy and Jacob discuss how taxation really works at the federal level and offer a few pointers for you to save some money on your tax bill, including ROTH IRA's, HSA's and understanding the progressive tax system in place. Also the rumor that the rich do not pay their fair share is dispelled in this episode...with ease. 

DISCLAIMER: We are not financial advisers and all information discussed today should be confirmed with a certified financial adviser so that you can't come back later and sue us for every penny that we're worth. For the love of everything holy don't take this podcast as expert advice! If you do, you're silly. 

 

Articles and information cited in this podcast:

Tax Rates 101

https://www.taxpolicycenter.org/briefing-book/how-do-federal-income-tax-rates-work

IRS publication 969

https://www.irs.gov/pub/irs-pdf/p969.pdf

90 percent marginal tax rate

https://taxfoundation.org/taxes-on-the-rich-1950s-not-high/

Laffer Curve

https://www.forbes.com/sites/danielmitchell/2012/04/15/the-laffer-curve-shows-that-tax-increases-are-a-very-bad-idea-even-if-they-generate-more-tax-revenue/#60e0ede7e1c9

UPDATED brackets for 2020

https://www.cnbc.com/2019/11/06/tax-rates-and-income-brackets-for-2020.html

 

 

 

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