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re: First time ever I got a second job.
Posted on 5/8/15 at 12:11 pm to Oenophile Brah
Posted on 5/8/15 at 12:11 pm to Oenophile Brah
To determine your tax rate, take your total income and subtract your standard deduction and personal exemption(s), that is your taxable income. The first $18150 is at 10%,income from 18150 to 73800 is at 15%, from 73800 to 148850 is at 25%. If your taxable is at 85000 for instance, you pay 1850 on the first bracket and 10027 on the next bracket for a total of 11877. Go online and you can get the other rates(these are 2014 as I recall). This is a rule of thumb. If you itemize it will not be that simple. If your income is over 73800, get a CPA, it is money well spent.
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