income tax bracket Synonyms
No Synonyms and anytonyms found
income tax bracket Meaning
Wordnet
income tax bracket (n)
a category of taxpayers based on the amount of their income
income tax bracket Sentence Examples
- Individuals earning within a specific income tax bracket are subject to a corresponding marginal tax rate.
- Taxpayers in the highest income tax bracket often pay a significant portion of their earnings towards taxes.
- Adjustments to the income tax brackets are frequently implemented to address economic changes and equity concerns.
- Tax credits and deductions can reduce taxable income and potentially move taxpayers into a lower income tax bracket.
- Progressive income tax brackets aim to ensure that individuals with higher incomes contribute proportionally more to government revenue.
- The income tax bracket system is designed to distribute the tax burden according to the ability to pay.
- Changes in income税 tax brackets can have a direct impact on disposable income and consumer spending.
- The cutoff points for each income tax bracket are adjusted periodically to account for inflation and changes in the cost of living.
- Taxpayers who fall within the same income tax bracket may have significantly different net incomes due to deductions and exemptions.
- Understanding income tax brackets is essential for accurate tax planning and making informed financial decisions.
FAQs About the word income tax bracket
a category of taxpayers based on the amount of their income
No synonyms found.
No antonyms found.
Individuals earning within a specific income tax bracket are subject to a corresponding marginal tax rate.
Taxpayers in the highest income tax bracket often pay a significant portion of their earnings towards taxes.
Adjustments to the income tax brackets are frequently implemented to address economic changes and equity concerns.
Tax credits and deductions can reduce taxable income and potentially move taxpayers into a lower income tax bracket.
