A first step to tax planning is to know your tax bracket and how close you are to the nearest tax brackets. What does it mean to be in the 22% tax bracket? Check all that apply. You save 22% in taxes on your last dollar of allowable deductions. If you are single, your Income falls in the $39,476 to $84,200 range. You pay 22% in taxes on your total taxable income. You pay 22% on your last dollar of taxable income earned