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Shawn P Adamo
Shawn P Adamo, CPA, Professor, CFP. CGMA, Business Consultant, Professor, PFS I have decades of experience answering these questions.
Category: Finance
Satisfied Customers: 2884
Experience:  CPA, Professor, CFP. CGMA, Business Consultant, Professor, PFS I have decades of experience answering these questions.
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What tax bracket would I be in making $300,000-$350,000/year?

Customer Question

What tax bracket would I be in making $300,000-$350,000/year? Thankyou Sheila
Submitted: 4 years ago.
Category: Finance
Expert:  Shawn P Adamo replied 4 years ago.

Shawn P Adamo :

Hello. My specialty is focusing on YOUR Financial needs. Financial Planner/Business Owner for 20 years. CPA,PFS,QFP,GMMA.

Customer:

Tax bracket--??25%, 30% Thankyou

Customer:

which one??

Shawn P Adamo :

Hi. Sorry had a computer glitch.

Customer:

?waiting for answer--Sheila

Shawn P Adamo :

I assume you are single?

Customer:

yes

Shawn P Adamo :

k.

Shawn P Adamo :



































Tax BracketMarried Filing JointlySingle
10% Bracket$0 – $17,400$0 – $8,700
15% Bracket$17,400 – $70,700$8,700 – $35,350
25% Bracket$70,700 – $142,700$35,350 – $85,650
28% Bracket$142,700 – $217,450$85,650 – $178,650
33% Bracket$217,450 – $388,350$178,650 – $388,350
35% BracketOver $388,350Over $388,350
Shawn P Adamo :

The bad news is that your incrmental tax rate is 33%

Shawn P Adamo :

But hey....That's a great salary. This assumes NO schedule A to adjust your income down.

Customer:

Thankyou!

Shawn P Adamo :

no 401K contributions.

Shawn P Adamo :

NP. What else can I answer for you while I am here?

Customer:

I'm 60 & taking my pension out as cash with 33% tax deducted

Shawn P Adamo :

seems to be ok. Remember Not ALL of it is taxed at 33%. Just what's over the 217,450.

Shawn P Adamo :

It's GRADUATED. First 17,40 is only at 1%, etc.

Shawn P Adamo :

If this answers your question please accept. If you feel kind please leave positive feedback.

Shawn P Adamo :

Is there anything else?

Shawn P Adamo :

Would you like to adopt me? or just put me in your will?

Shawn P Adamo :

lol

Customer:

Thankyou!!!

Shawn P Adamo and 2 other Finance Specialists are ready to help you
Expert:  Shawn P Adamo replied 4 years ago.
Please leave Positive Feedback if you were happy...