Income Tax and Payroll Tax Explained | Taxes 101

If all you walked away from school was learning that the mitochondria was the powerhouse of a cell, you aren’t alone! One thing we all wish we learned more about was how do taxes actually work?! You’ve no doubt wondered what the litany of taxes that chip away your take home pay are for. Welcome to Taxes 101 and wonder no longer, as you’ll learn how the Federal Income Tax, along with the Payroll Taxes are calculated. Never again will you be confused to what the IRS is really taking.
Curious about the IRS tax tables for 2020, here is a link to the pdf!

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