Tax work is like Chess, not Checkers.
Both games are played on the same board of 64 squares.
But in Checkers all the pieces are identical and can only be moved diagonally.
Any child can learn Checkers in a very short time.
By way of contrast, there are six different Chess pieces with each having different
rules associated with its movement, giving rise to a need for strategy. Unless you
can think at least three moves ahead, it’s hard to win at Chess, even against a novice opponent.
You probably immediately grasp the analogy to taxes, finances, and business.
Tax Brackets & Rates
| Rate | Single filers | Married filing jointly or qualifying widow(er) |
Married filing separately |
Head of household |
|---|---|---|---|---|
| 10% | Up to $8,375 | Up to $16,750 | Up to $8,375 | Up to $11,950 |
| 15% | $8,376 - $34,000 | $16,751 - $68,000 | $8,376 - $34,000 | $11,951 - $45,550 |
| 25% | $34,001 - $82,400 | $68,001 - $137,300 | $34,001 - $68,650 | $45,551 - $117,650 |
| 28% | $82,401 - $171,850 | $137,301 - $209,250 | $68,651 - $104,625 | $117,651 - $190,550 |
| 33% | $171,851 - $373,650 | $209,251 - $373,650 | $104,626 - $186,825 | $190,551 - $373,650 |
| 35% | $373,651 or more | $373,651 or more | $186,826 or more | $373,651 or more |
Social Security Retirement Benefits
The earliest age at which you can begin receiving your Social Security retirement benefits is 62.
You can apply for your benefits 3 months before you turn 62 if you want your payments to start at that age. "Yes", whether you can apply for benefits now depends on when you want your benefits to start.