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The basics of the tax brackets is that the higher you are earning the more tax you pay. And, in this country, your civil status will also affect your income tax wherein being single will get you to pay more while having dependents will lessen your tax. Knowing this, you realize that the government is fair in its tax system to all citizens allowing for higher tax to those who are deemed to be rich while the middle class pay less. The ones who are earning at minimum wages have lower taxes and may even have more tax exemptions than the others may.

If you must know, there are assigned income ranges to help determine which of the tax brackets you belong. Therefore, this makes the tax computation a little easier on your part if you are the one preparing for it. The income range is adjusted every year to have room for increasing inflation rates. You do not have to think that just because your income is also increasing every year, the added income is just as simple as to add more tax to your earnings. The government has done their part in studying how the tax system works so you just need to do your part and pay the exact income tax.

Project Info

Date / Year : Nov 2012 to Dec 2012
Services : PHP, Custom CMS
Skills : PHP, jQuery, Custom CMS
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