Ashlea Ebeling
speaker
2,002 appearances
38 recordings
1 series
first heard Jul 2022
last heard Feb 2025
Ashlea Ebeling’s voice in public audio — every appearance, attributed to the second.
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So these new numbers are for 2025.
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The brackets going up a little means it takes more income to reach each higher tax bracket.
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So someone who makes about the same would owe just a little bit less in taxes.
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For example, someone earning $120,000 and then they take the standard deduction, they would owe about $400 less.
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What about people who are going to make slightly more next year?
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Once your income goes up, the savings is a little less.
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But the IRS is lifting all boats.
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You're always better off because more income is being taxed in the lower brackets at a lower rate.
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So that's important to note.
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That doesn't mean they're paying 24% on all their taxable income.
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That could just be the top sliver.
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For 2025, for a single person, it's above about $103,000.
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That's at that 24%.
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The first sliver of their income up to $12,000 is just taxed at 10%, then the next sliver at 12%, then 22%.
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Going back to that hypothetical $120,000 salary person, their effective tax rate would be more like 15%.
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That's rising to $15,000 for individuals, and that's up from $14,600 this year.
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For married couples, it's double.
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It's $30,000 up from $29,200.
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That's important because you're either taking the standard deduction or you're itemizing deductions.
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And itemized deductions are things like charitable donations and medical expenses.
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Showing 481–500 of 2,002 · page 25 of 101
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