I think this is mostly a US thing. Why use yearly salary? You’re not paid once a year, are you? Most likely once a month. Referencing monthly salary makes much more sense.
“I’m making 50k”. Great, now I have to guess - dollars? Monthly? Yearly? If yearly then what’s the monthly paycheck? Net? Gross?
Because your yearly income dictates your tax bracket.
This isn’t how tax brackets work. Say we have 5%, 10%, and 15% in a system similar to the US with completely made up numbers. Say you make $99k, your first $33k will be taxed at 5% ($1650), your second $33k at 10%($3300), and your last $33k taxed at 15%($4950) totalling $9900. 9900/99000= a 10% effective tax rate. The real system is more complicated, but this is what it boils down to.
Nothing that I wrote conflicts with anything you said.
Being in Tax Bracket C doesn’t in any way imply you arent in Tax Bracket A.
The point is, Tax Brackets, and Taxes in general, are based on yearly income, so thats what people largely measure by once you are above a certain pay grade.
You get taxed by the year, so many people quote their income by the year, because its a quick and simple indicator of wealth/status.
You wrote “it determines your tax bracket” inferring you’d be in a single bracket and this is an extremely common misconception with how our tax system works. Furthermore, your income is only part of the equation since your tax rate is also affected by deductions, exemptions, and credits making two people making the exact same income can be taxed at different rates.
For future reference. Anytime people are talking about “their tax bracket” in a progressive tax system, they are talking about the top level bracket.
It’s typically redundant to, mid conversation, list all the tax brackets that exist under the one you’re talking about.
The only people I’ve ever heard talking about “their tax bracket” are the types who refuse to take an extra hours at work because “it’ll put me in a higher tax bracket and I’ll actually earn less money than if I hadn’t worked it at all” even though that’s mathematically impossible.
Someone earning $44,726 will put them a whole dollar into the 22% tax bracket meaning they pay $0.22 more in taxes than if they’d stayed within the 12% bracket of $11,001-$44,725. Claiming “I’m in the 22% bracket” is completely meaningless, as evidenced with the above example, and ignores the fact that this person is much more likely to have an effective tax rate of around 12% or less. If you’re only paying 12% of your income in taxes, why in the world would you say you’re “in the 22% bracket?”
I can’t tell if you’re being serious - and so the world’s biggest pedant, or if you’re just the kind of person who can never admit they were wrong, even about something inconsequential, and aren’t willing to admit you misread the top comment lol
I think you might be the only one that inferred that.