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2025 & 2024 Federal Income Tax Brackets: A Side by Side Comparison
The IRS released the 2025 Tax Rate Brackets recently, along with the 2025 Standard Deduction amount and a bunch of other details that your tax man might find interesting. I couldn’t find a side-by-side comparison with 2024, so I decided to create one that I could look at, and that will hopefully help you out. The tax rates themselves are unchanged. They remain at 10, 12, 22, 24, 32, 35, and 37 percent. The income you can earn per each bracket has been raised a fairly significant amount, on average a little more than 5.0%. This amount is about on par with inflation, which was 3.2% in 2023 and, so far in 2024, is 2.4%, according to the U.S. Inflation Calculator. Why do tax rates matter? If you are reading this, you probably already know why they matter, but I just thought I’d make sure. These tax rates impact how ...
2026 vs. 2025 Federal Income Tax Brackets: A Side by Side Comparison
The IRS released the 2026 Tax Rate Brackets recently, along with the 2026 Standard Deduction amount and a bunch of other details that your tax man might find interesting. I couldn’t find a side-by-side comparison with 2025, so I decided to create one for myself that will hopefully help you out. The tax rates themselves are unchanged. They remain at 10, 12, 22, 24, 32, 35, and 37 percent. The income you can earn in each bracket has been raised by a fairly significant amount, on average, about 4%. This amount is higher than the inflation rate for the previous 12 months, which was 2.4% in 2024 and, for the 12 months ending in August 2025, is 2.9%, according to the U.S. Inflation Calculator. Previous Years Comparisons If you would like to view comparisons from previous years, they can be found here. Why do tax rates matter? If you are ...
401a vs 457b: What’s the Difference Between 401(a) and 457(b) Plans?
The road to retirement can seem complicated, especially when navigating the multitude of retirement savings options available. For those working in government sectors and certain non-profit organizations, two popular options are the 401(a) and the 457(b) retirement plans. While both are designed to offer tax-advantaged retirement savings, they differ in their features, benefits, and regulations. In this article, we look into understanding these two types of plans — 401(a) and 457(b). We’ll examine their structure, contribution limits, tax implications, and benefits and explore the distinctive features of each. We also touch upon the age-based and special contribution rules and the types of investment products available in a 457(b) plan and discuss various aspects related to withdrawals and distributions from these plans and what happens to your 457(b) plan in the event of leaving your job, divorce, or death. 457(b) Plan vs. 401(a) Plan Comparison Chart In the complex landscape of ...
Net Worth | August 2023
Welcome to the August 2023 edition of our net worth tracker, where we’ll track our net worth month over month. I first started tracking our net worth at the time this blog was started, which was at the beginning of September 2019. I started by creating the Net Worth Baseline report. You can view Previous Net Worth reports HERE. August is over, and the weather has been over 100 every day almost literally. We got a little bit of a break the last week with a couple of days in the 90s. Financially, August was a mediocre month due to the markets, and there were no unexpected surprises. Monthly Roundup Previously, I would go through my month and go over the highlights. These days I’m doing it a little differently. Unless you convince me that you want to hear about my month, I'm not going to talk about it. August ...
Net Worth | March 2021
Welcome to the March 2021 edition of our net worth tracker, where we’ll track our net worth month over month. I first started tracking our net worth at the time this blog was started, which was the beginning of September 2019. I started by creating the Net Worth Baseline report. You can view Previous Net Worth reports HERE. Vaccines are now available to everyone, but it's still only a little safe to hang out if you're vaccinated...interesting. Things are trending back to normal though. I’m not going to talk much about what I did this month because, well, we haven't been doing much. It was an overall calm and relaxing month for us, and we survived losing an hour of sleep thanks to daylight savings time. Monthly Roundup Normally, I go through my month, and go over the highlights. These days I’m doing it a little different. I think I ...