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re: My tax bracket
Posted on 2/7/13 at 9:30 am to Jma313
Posted on 2/7/13 at 9:30 am to Jma313
Assuming you're single, You'll pay $892 plus 15% of your taxable income over $8920.
Keep in mind, you'll get a standard deduction of $6,100 (assuming you're not itemizing) and a personal exemption of $3,900. So, of the $31,000 you make, only $21,000 will be taxed.
Doing the math, you'll pay the $892 plus $1,812 (.15 x 12,080), for a total of $2,704.
You'll also pay about $2,371 in SS/Medicare taxes.
Keep in mind, you'll get a standard deduction of $6,100 (assuming you're not itemizing) and a personal exemption of $3,900. So, of the $31,000 you make, only $21,000 will be taxed.
Doing the math, you'll pay the $892 plus $1,812 (.15 x 12,080), for a total of $2,704.
You'll also pay about $2,371 in SS/Medicare taxes.
1
Posted on 2/7/13 at 9:35 am to Newbomb Turk
quote:
So, of the $31,000 you make, only $21,000 will be taxed.
You aren't factoring any 401K contributions, insurance, or any other pre-tax deductions he might have.
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