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Reply to "My household gross income is 105K. What is the next tax bracket?"
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[quote=Anonymous]There is no reason to be concerned about going into a higher tax bracket. You will never, ever lose money by hitting the next tax bracket because all of your current income is still taxed at the exact same rates it was before-- at worst, some of your raise will be taxed slightly higher. Tax brackets only apply to the portion of your income that falls in that bracket. For example, the top of the 10% Married Filing Jointly bracket in 2018 is $19,050, so all your income under $19,050 is taxed at 10%. Then the top of the 12% MFJ bracket in 2018 is $77,400, so all your income between $19050-$77400 is taxed at 12%. The 22% MFJ bracket is $77,400-$165,000, so each additional dollar above $77,400 will be taxed 22% until you hit $165,000 at which point it'll start being taxed 24%. [/quote]
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