Tax Fact: Seven tax brackets in the US
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In the U.S., taxpayers pay more if they make more. In fact, there are currently seven different tax brackets in the U.S., and the higher your income, the higher your bracket. This type of system is referred to as a progressive tax system. It’s an alternative to a flat tax system, where everyone would pay the same amount or would be taxed at the same rate.

The theory behind a progressive tax system is that people who make less spend more of their money on meeting life’s basic necessities so they have less money left over to contribute to the common good by paying a high tax bill.

Have questions about your taxes? Do you have concerns about your financial future? Call us here are Red Rock Tax & Consulting and let’s talk about how to get you to where you want to be. Let us help you make your money work for you! 435-635-2494

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