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You make $130,000 at your career job and work part-time as a Financial Planner making $40,000. Use the tax table for a Single taxpayer below
You make $130,000 at your career job and work part-time as a Financial Planner making $40,000. Use the tax table for a Single taxpayer below to determine your marginal tax rate. If the amount of wages is: The amount of income tax to withhold is: Over But Not Over $0 $3,800 $0 $3,800 $13,675 $0 + 10% of excess over $3,800 $13,675 $43,925 $987.50 plus 12% of excess over $13,675 $43,925 $89,325 $4,617.50 plus 22% of excess over $43,925 $89,325 $167,100 $14,605.50 plus 24% of excess over $89,325 $167,100 $211,150 $33,271.50 plus 32% of excess over $167,100 $211,150 $522,200 $47,367.50 plus 35% of excess over $211,150 $522,200 $156,235 plus 37% of excess over $522,200 a. 24% Ob. 22% C. 28% d. 32%
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