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Mike Giudici, CFP®, MBA
Mike Giudici, CFP®, MBA
Choreo, LLC Senior Director, Wealth Management
http://choreoadvisors.com 563-279-0714

As a wealth manager, Mike strives to simplify the complex world of money to help clients make better decisions and lead joyful lives. With a passion for learning and teaching, he works with each client to develop unique financial plans that serve as road maps for investment, balance sheet and cashflow decisions. Mike’s attention to detail helps ensure that all aspects of the financial plan are implemented and monitored on an ongoing basis. His specialties include wealth building, retirement planning, estate transfer, college education planning and tax planning.

Mike has more than 14 years of experience in advising business owners, high net worth individuals and their families on how to meet their financial goals. 

PROFESSIONAL AFFILIATIONS AND DESIGNATIONS

CFP®
Financial Planning Association, Eastern Iowa chapter
Quad Cities Area Estate Planning Council

EDUCATION

Bachelor of Arts; finance, economics and philosophy; Saint Ambrose University
Master of Business Administration, finance concentration, University of Iowa

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Understanding Marginal Income Tax Brackets

Tax Read Time: 3 min

By any measure, the tax code is huge. It is over 2,000 pages long, and even longer with footnotes.1

And almost weekly, the Internal Revenue Service publishes a 10- to 50-page bulletin about various aspects of the tax code.2

Fortunately, it’s not necessary to wade through these massive libraries to get a basic understanding of how income taxes work. Knowing a few key concepts may provide a solid foundation.

One of the key concepts is marginal income tax brackets.

Taxpayers pay the tax rate in a given bracket only for that portion of their overall income that falls within that bracket’s range.

Tax Works

Seeing how marginal income tax brackets work is helpful because it shows the progressive nature of income taxes. It also helps you visualize how your total tax rate can be calculated. But remember, this material is not intended as tax or legal advice. Please consult a tax professional for specific information regarding your individual situation.

How Federal Income Tax Brackets Work

Say a married couple, filing jointly for the 2026 tax year, had a taxable income of $250,000. Each dollar over $211,400 – or $38,600 – would fall into the 24 percent federal income tax bracket. However, the couple's total federal tax would be $$45,196 – about 18 percent of their adjusted gross income.

This is a hypothetical example used for illustrative purposes only. It assumes no tax credits apply.

2026 Federal Income Tax Brackets

Your federal income tax bracket is determined by two factors: your total income and your tax-filing classification.

For the 2026 tax year, there are seven tax brackets for ordinary income – ranging from 10 percent to 37 percent – and four classifications: single, married filing jointly, married filing separately, and head of household.3

1. House.gov, 2025
2. IRS.gov, 2025
3. IRS.gov, 2025

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright FMG Suite.