Home > categories > Hardware > Brackets > What is my tax bracket?
Question:

What is my tax bracket?

If I make 70,000 a year what percentage of that do I need to pay in to Federal and State Taxes for 2009?

Answer:

Are you single, married filling jointly, married filling separately, head of household, qualifying widow? Here's a website that will help you determine your tax bracket and your total taxes. Remember that your taxable income is whatever is left after you subtract your deductions and personal exemptions.
Use 23% as an estimate for federal and 2% for state tax. That should get you close.
Tax brackets are imposed on taxable income not the gross earnings. Therefore your tax bracket could not be determined by the information that you have provided.

Share to: