How many federal tax brackets are there?
- Three
- Five
- Seven
- Nine
True or False: All of your income is taxed at the same rate for federal
- True
- False
Which action is one you can take to lower your taxable income for federal taxes?
- Invest in gold
- Open a Certificate of Deposit Account (CD)
- Contribute to a pre-tax retirement plan
- Contribute to a Roth IRA
The maximum federal tax rates have ________ over the past 40 years.
- increased 13%
- increased 22%
- decreased 22%
- decreased 13%
For the answers to your Tax Bracket Knowledge test, click here to visit TIAA’s 2024 and Beyond Tax page.
