You can calculate the tax bracket that you fall into by dividing your income that will be taxed into groups- the tax brackets. For example, if your taxable income is $50,0, not all of it is taxed at 22% some of it will be taxed in lower brackets. is progressive, which means your income is taxed at different levels. If your taxable income increases, the taxes you pay will increase.īut figuring out your tax obligation isn’t as easy as comparing your salary to the brackets shown above. The amount you pay in taxes depends on your income. Tax brackets were created by the IRS to determine how much money you need to pay the IRS annually. For Married Individuals Filing Joint Returns
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