Subject: RE: Tax Bracket QuestionExample: Say the 2007 federal tax rates are as follows: your taxable income is between... | your tax bracket is: | $0 and $7,825 | 10% | $7,825 and $31,850 | 15% | $31,850 and $77,100 | 25% | $77,100 and $160,850 | 28% | $160,850 and $349,700 | 33% | $349,700 and above | 35% |
if you earn $100,000, your marginal tax rate is 28%. You will get to keep only 72¢ of the next dollar earned. But your tax bill is $22,110.75, making your effective tax rate 22.1%. Edited by the bear 2008-03-06 3:15 PM
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