Credit Confidence: Understanding the Basics
Credit can feel overwhelming, but you don’t have to figure it out alone. Credit impacts almost every aspect
Credit can feel overwhelming, but you don’t have to figure it out alone. Credit impacts almost every aspect
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Please enter a valid gross income (0 or more).
`; return; } const std = useStd ? STANDARD_DEDUCTION_2025[status] : 0; const taxable = Math.max(0, gross - std); const { rows, totalTax, marginalRate, effectiveRate } = calculateBreakdown(taxable, BRACKETS_2025[status]); $("stdDeductionLabel").textContent = money(STANDARD_DEDUCTION_2025[status]); $("taxableIncomeOut").textContent = money(taxable); $("totalTaxOut").textContent = money(totalTax); $("marginalRateOut").textContent = pct(marginalRate); $("effectiveRateOut").textContent = pct(effectiveRate); const bodyRows = rows.map(r => `| Bracket range (taxable income) | Income taxed in this bracket | Tax from this bracket |
|---|---|---|
| No taxable income falls into these brackets. | ||
| Total | ${money(taxable)} | ${money(totalTax)} |
Note: This is federal income tax from brackets only. Real tax returns can differ because of credits (like Child Tax Credit/EITC), other deductions, self-employment tax, and state/local taxes.
`; } function init() { if (!$("taxBracketTool")) return; // not on this page $("stdDeductionLabel").textContent = money(STANDARD_DEDUCTION_2025[$("filingStatus").value]); $("calcBtn").addEventListener("click", render); $("filingStatus").addEventListener("change", () => { $("stdDeductionLabel").textContent = money(STANDARD_DEDUCTION_2025[$("filingStatus").value]); render(); }); $("useStandardDeduction").addEventListener("change", render); $("grossIncome").addEventListener("input", () => { // Optional: live update as they type (comment out if you prefer button-only) render(); }); render(); } // Run after DOM is ready if (document.readyState === "loading") { document.addEventListener("DOMContentLoaded", init); } else { init(); } })();