How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
A new question is answered every 9 seconds
Ask a Tax question
Type Your Tax Question Here...
characters left:
Tax Professionals are Online Now

Tax Bracket Questions

What is a Tax Bracket?

A Tax Bracket is different groups that are determined at which tax rates change in a progressive tax system. There are cutoff values for taxable income; the taxable income will be taxed at a higher rate past a certain point. If a person’s an annual income goes past the cutoff point, that person is taxed due to the next tax bracket.

According to tax brackets would an individual need to change their W2 form if there are individuals living with them that do not work, and they are considered the head of household? Would this drop the individual tax bracket percentage?

If at least one of the individuals is a qualifying person for “Head of Household”, then one of the people could use that status.

Only certain types of relatives can be qualifying persons for Head of Household as follows:
  • Child, step child, adopted child, foster child, brother or sister, or a descendant of one of these whom you can claim as a dependent under the qualifying children rules;
  • Child, step child, adopted child, foster child, brother or sister, or a descendant of one of these whom you would be able to claim as a dependent under the qualifying children rules but choose not to claim as a dependent because you released the dependent's exemption to the noncustodial parent;
  • Mother or father who can be claimed as a dependent under the qualifying relative rules;
  • Brother, sister, grandparent, niece, or nephew whom you can claim as a dependent under the qualifying relative rules.

If a person is in the 36% tax bracket; does that mean that the entire income is taxed at 36% or is it a graduated system and only that part above a certain level is taxed at 36% ?

That will be the only part that is above a certain level is taxed at 36%; if the person’s taxable income is decreased by a dollar then the tax saving will be only be $.36. Although, if the person’s income is gained by one dollar then the tax liability will be $.36; Tax brackets apply to taxable income. The tax brackets can vary depending on the way a person files the taxes.

What tax bracket would a couple be in if they are jointly filing with a $167,000 income in California? What percentages of the earnings are supposed to be paid for the State and Federal levels?

A person’s tax bracket depends on the tax income; it has nothing to do with a person’s total income that is earned. The person will have to factor in the adjustments, deductions and exemptions before the person will know what the tax bracket. The couple may be in the highest bracket for CA, 9.3%.

Is there a 50% tax bracket for individuals earning over 1 million dollars?

There is not a specific tax bracket for that type of income. No there is no currently such bracket for income taxes. The highest tax bracket is 35%. Although, there is something called the inheritance tax on estate that is worth over $2,000,000. The highest tax bracket on it is 47%.

Hard working people are filing for income taxes and want to know what tax bracket that they fall in. Often individuals and couples have questions like what is the Federal Tax Bracket, what is my tax bracket, and questions like what is the retirement tax bracket. Experts can assist with questions that involve income taxes and tax bracket questions that people may have. It is important to ask questions about this topic to give a better understanding.
Ask a Tax question
Type Your Tax Question Here...
characters left:
Tax Professionals are Online Now

How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
< Last | Next >
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex Los Angeles, CA
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP Hesperia, CA
  • I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin Kernersville, NC
  • Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther Woodstock, NY
  • Thank you so much for taking your time and knowledge to support my concerns. Not only did you answer my questions, you even took it a step further with replying with more pertinent information I needed to know. Robin Elkton, Maryland
  • He answered my question promptly and gave me accurate, detailed information. If all of your experts are half as good, you have a great thing going here. Diane Dallas, TX
 
 
 

Meet The Experts:

 
 
 
  • Ron

    ASE Certified Technician

    Satisfied Customers:

    21184
    23 years with Ford specializing in drivability and electrical and AC. Ford certs and ASE Certs
< Last | Next >
  • http://ww2.justanswer.com/uploads/FO/fordguy4u/2011-12-17_222940_HPIM1257.64x64.JPG Ron's Avatar

    Ron

    ASE Certified Technician

    Satisfied Customers:

    21184
    23 years with Ford specializing in drivability and electrical and AC. Ford certs and ASE Certs
  • http://ww2.justanswer.com/uploads/lyeung1/2010-07-25_032152_tn_IMG_0241.JPG Dr. Y.'s Avatar

    Dr. Y.

    Urologist

    Satisfied Customers:

    18393
    I am fellowship trained specializing in general urology and reconstructive urology.
  • http://ww2.justanswer.com/uploads/docjohn174/2008-12-13_170143_johnask.jpg John's Avatar

    John

    Home Appliance Technician

    Satisfied Customers:

    13453
    Appliance repair business owner for over 43 years.
  • http://ww2.justanswer.com/uploads/MU/multistatelaw/2011-11-27_173951_Tinaglamourshotworkglow102011.64x64.jpg Tina's Avatar

    Tina

    Lawyer

    Satisfied Customers:

    8490
    JD, BBA Over 25 years legal and business experience.
  • http://ww2.justanswer.com/uploads/dermdoc19/2010-09-30_160749_Photo_122807_015.JPG dermdoc19's Avatar

    dermdoc19

    Dermatologist

    Satisfied Customers:

    3848
    30 years practice in general and cosmetic dermatology
  • http://ww2.justanswer.com/uploads/BI/birddoctor/2012-6-22_173214_birddoctor.64x64.png Dr. Pat's Avatar

    Dr. Pat

    Bird Veterinarian

    Satisfied Customers:

    3384
    25+ years working primarily or exclusively with birds
  • http://ww2.justanswer.com/uploads/RY/rydergar/2012-6-6_192240_IMG0328.64x64.JPG Dr. Gary's Avatar

    Dr. Gary

    Cat Veterinarian

    Satisfied Customers:

    3299
    DVM, Emergency Veterinarian, BS (Physiology)
 
 
 

Recent Tax Bracket Questions

  • I made $13,000 in 2013 and the IRS sz i owe $1900 in taxes.

    I made $13,000 in 2013 and the IRS sz i owe $1900 in taxes. I have no dependents but i thought poverty level incomes got some kind of break.
  • IRC 1341

    I plan to claim a tax credit on IRC 1341 due to an overpayment of my pension plan in 2012 and 2013. As I am in a lower tax bracket in 2014 than I was in 2012/2013, the credit for the actual taxes that I paid on the overpaid benefits is higher than the tax savings generated by taking a deduction in 2014. The plan sponsor is also demanding interest (@ the assumed ROA for the plan of 7%). I understand that they need the interest to make the plan whole but I don't feel like I should be the one paying it as the overpayment was a result of mistakes by the company and the plan sponsor, not me. In the event that I am forced to pay the interest, can I at least deduct it on my Schedule A while claiming the credit for the actual overpayments? The interest is > $3k.

  • I am closing an IRA presently at $53k. My salary is $61k. I

    I am closing an IRA presently at $53k. My salary is $61k. I would like to be sure I hold enough back for 2014 taxes. Would it be correct to add 53,000 and 61,000 to a total of $114,000, calculate the taxes for that tax bracket and subtract from it what I will pay in federal taxes by the end of 2014? I have come up with holding approximately $14,695.
< Last | Next >