"Young professionals working in a range of industries may feel like they've "made it" when the cross over into the six-figure threshold. Making $100,000 per year has been a goal many have set out to attain, and it can take some time in certain industries to hit this target. But with approximately one-fifth of the U.S. population earning this much money, and the number of six-figure earners living paycheck to paycheck surging, this sum isn't what it once was."
"Sometimes, retaining the status quo can result in a big win. In the case of a single filer earning $100,000 per year, the extension of Trump's 2017 Tax Cuts and Jobs Act (which was set to expire) means that an individual earning this much money would save on the order of around $1,500 per year simply by paying taxes at the current ta"
Many young professionals aim to reach a six-figure salary, although geographic cost-of-living can prevent that income from qualifying as middle-class. About one-fifth of individuals and roughly 40% of U.S. households earn six figures, and many six-figure earners still live paycheck to paycheck. The 'Big Beautiful Bill' extends the 2017 Tax Cuts and Jobs Act that had been set to expire. Single filers earning $100,000 would save about $1,500 annually by retaining the current tax rules. The bill's other provisions can alter deductions, credits, and the overall tax impact for upper-quartile earners.
Read at 24/7 Wall St.
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