ABOUT HOSTS

Joe Anderson
ABOUT Joseph

As President of Pure Financial Advisors, Joe Anderson has led the company to achieve over $2 billion in assets under management and has grown their client base to over 2,160 in just ten years of the firm opening. When Joe began working with Pure Financial in 2008, they had almost no clients, negative revenue and no [...]

Alan Clopine
ABOUT Alan

Alan Clopine is the CEO & CFO of Pure Financial Advisors. He currently leads Pure Financial Advisors along with Michael Fenison and Joe Anderson. Alan joined the firm about one year after it was established. At that time the company had less than 100 clients and approximately $50 million of assets under management. As of [...]

CPA “Big Al” Clopine shows you how to find your tax bracket by looking at line 43 on your tax return.


Transcription:

“Let’s take a look at the tax return itself. If you go to line 43 on the tax return, this will show you what your taxable income is, and in this example it’s a little over $100,000 for a married couple. So I look at last year’s 1040 page 2 line 43–$100,000. Now, we’re going to go back to this tax table and figure out what bracket you’re really in. When you look at the bracket, sure enough that $100,000 for a married couple is going to be between that $74,901and $151,200 so you’re in the 25% bracket. So it means that if you’re going to get a bonus of $10,000 you’re going to pay taxes on 25% of that. Or, if you come up with an extra deduction, then you’ll save 25% of that deduction (like a charitable deduction). Of course don’t forget state taxes as well”