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Reply to "My household gross income is 105K. What is the next tax bracket?"
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[quote=Anonymous]I find it easier looking at tax brackets that are written like this: [url]https://files.taxfoundation.org/20170123140911/TaxFoundation-FF534.pdf[/url] [code]Married Filing Joint Taxable Income Brackets and Rates, 2017 Rate Taxable Income Bracket Tax Owed 10% $0 to $18,650 10% of taxable income 15% $18,650 to $75,900 $ 1,865.00 plus 15% of the excess over $18,650 25% $75,900 to $153,100 $ 10,452.50 plus 25% of the excess over $75,900 28% $153,100 to $233,350 $ 29,752.50 plus 28% of the excess over $153,100 33% $233,350 to $416,700 $ 52,222.50 plus 33% of the excess over $233,350 35% $416,700 to $470,700 $112,728.00 plus 35% of the excess over $416,700 39.60% $470,700+ $131,628.00 plus 39.6% of the excess over $470,700[/code] I think this gives a better idea of how the marginal brackets work. [/quote]
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