Thanks for asking your question! I'm sorry to hear about your tax issue and I'm going to try my best to help you understand or resolve it.Thank you for your question and thank you for using JustAnswer.com. The 39.6% tax rate is only on your income above $390,050. It is not levied on your entire income. Our income tax system is progressive, meaning you slowly increase the amount of tax you pay the more you make. Please let me know if this is unclear. You can CLICK HERE to see the tax brackets for 2013. Thank you again for using our service. Have a happy, and safe, 2013.
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So if my adusted gross income is $500,000 and I am single, my tax rate would be based on the tax table in increments? And only the 100,000 would be taxed at 39.6%?