Jade Walshaw

Yeah.

50% off.

Yeah.

So the tax brackets, they're a progressive system.

So there is a range of income that is taxed at a certain amount.

Your entire income is not taxed at the same amount.

A higher bracket never means that you're going to pay that tax percentage on your entire income.

So if you've never done it, go through and you can Google the tax brackets for the tax year and you can see how it's broken down.

So that's so good because a lot of people are like, I don't want to make more.

I don't want to be in that bracket.

That's crazy talk.

All right, you always want to take 25% to 30%, set that aside for income taxes, and just know that you'll likely need to pay quarterly taxes.

I like to do a quarterly estimate, set that aside.

That way Uncle Sam has his cut.

All right.

So that's usually people's question, which should I do?

And the answer is whatever is going to lower your taxable income more.

For most of us, the standard deduction is where we're going to sit.

If you're just normal W-2, not much going on but the rent.

I mean, if you're a married filing joint, that's $31,500 that they're deducting.