U. s. Income tax brackets?

I'm not a CPA but my Dad was. Lots of affluent people give to charity to write off the income and fit into a lower tax bracket, right?

i guess my point is there is a difference between being single and making 115k a year and being single and giving 35k away to fit into the lower income.

My boyfriend who makes over 100k doesn't believe it makes a difference. Can anyone else side with me that income tax does in fact have a black line that decides how much percentage you pay?

I don't make as much as he does but I'm single and I know by giving away money my tax goes down by 5%. I'm on the line he is no where near the bracket line so it doesn't serve him I guess.

Updates:
Someone making 80k doesn't pay the same percentage of tax as someone making 250k

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Most Helpful Guy

  • income tax really does not have a set line. I am a business owner and my tax bill can go down to as much as 2%.

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    • Am I the only one who remembers the bitching when the Bush tax cuts were expiring? Household income of $250k wasn't seen as a lot in the NE yet it was going to carry the highest tax. If you see you income go from $50k to $115k in a year I promise you will notice the difference you are paying to Uncle Sam. If you are on the fence between two brackets it does you better to either 401k as much as you can and give away the rest, you still come out on top. This is why they cap how much one can throw into a 401k in a year. It would be a form of tax evasion otherwise.

    • Well, the people in the wealthier income tax brackets tend to know how to reduce their tax bill radically. Your argument is theoretical, not practical.

Most Helpful Girl

  • there is no difference.

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