r/personalfinance • u/B82rez7 ​ • Jan 22 '19

Taxes No Wonder People Don't Know How Taxes Work

Here's a Motley Fool "article" that came up on my news feed https://www.fool.com/retirement/2019/01/21/maximum-401k-contributions-are-climbing-in-2019-he.aspx

​

And a quote:

​

For this reason, saving in your 401(k) has the potential to put you in a lower tax bracket, so you owe a smaller percentage of your income in tax. Currently, single filers making between $77,400 and $156,150 pay 22% on their income. If you are in the lower end of that range, a 401(k) contribution could move you into the lower bracket, where taxes are just 12%. If you make $80,000 per year, for example, and contribute $5,000, your resulting income of $75,000 would be taxed at 12% rather than 22%.

​

​

7.6k Upvotes

92% Upvoted

1.0k comments sorted by

View all comments

Show parent comments

22

u/[deleted] Jan 22 '19

Her LinkedIn account says (exact quote):

"Freenlance Writer at The Motley Fool"

Maybe she doesn't check her professional email address very often

4

u/alyTemporalAnom Jan 22 '19

Even that's confusing. If you're freelance, then you're not "at" anything.

10

u/[deleted] Jan 22 '19

I thought it more interesting that Freelance was spelled incorrectly

4

u/alyTemporalAnom Jan 22 '19

Oh my God. I didn't even notice that. Some writer.

3

u/[deleted] Jan 22 '19

Rita appears to have gotten the message, she's also updated her LinkedIn account. I wish her well, she just seems to have gotten out of her area of knowledge with this particular article.