What are the Tax Brackets in the US?
The tax brackets in the US are the graduating percentages of tax on the money you earn after all your exemptions have been taken. This is called your taxable income. Tax brackets in the US don’t include tax credits, which are reductions you may be entitled to, like child care, education, or certain income losses. Tax brackets in the US also account for whether you are filing jointly with a spouse, or whether you are filing taxes alone. It’s very important to note that the percentages are subject to change. For example, George W. Bush’s presidency, percentages were reduced, especially for those making greater amounts of income. As of 2007, the following were the tax brackets in the US, which refer to income made, not standard deductions and exemptions. For the single person with no dependents, the first $7825 US Dollars (USD) is taxed at a rate of 10%. Money made between $7826 and $31,850 USD is taxed at 15%. The next bracket is money made between $31,851-$77,100 USD, which is taxed at
The tax brackets in the US are the graduating percentages of tax on the money you earn after all your exemptions have been taken. This is called your taxable income. Tax brackets in the US don’t include tax credits, which are reductions you may be entitled to, like child care, education, or certain income losses. Tax brackets in the US also account for whether you are filing jointly with a spouse, or whether you are filing taxes alone. It’s very important to note that the percentages are subject to change. For example, George W. Bush’s presidency, percentages were reduced, especially for those making greater amounts of income. As of 2007, the following were the tax brackets in the US, which refer to income made, not standard deductions and exemptions. For the single person with no dependents, the first $7825 US Dollars (USD) is taxed at a rate of 10%. Money made between $7826 and $31,850 USD is taxed at 15%. The next bracket is money made between $31,851-$77,100 USD, which is tax
