Tax

Have a Tax Question? Ask a Tax Expert

Ask an Expert, Get an Answer ASAP!

Tax Bracket Questions

Has your tax bracket changed since the previous year and you want to know what it means? Do you need to know what yours is according to your income level? This can be a confusing topic, however, it is important to understand it. Asking Experts online any questions you have will provide you with all the answers you need. Read below where Experts have answered tax bracket questions. 

What is a tax bracket?

This is different groups that are determined at which rates change in a progressive tax system. There are cutoff values for taxable income which will be taxed at a higher rate past a certain point. When a person’s an annual income goes past the cutoff point, they will then be in the next bracket.

What are the cutoffs for each bracket?

These figures represent your taxable income after applying your standard or itemized deductions plus your personal allowances.
 
Tax rate Single filers Married filing jointly or qualifying widow/widower Married filing separately Head of household

  • 10% Up to $8,375 Up to $16,750 Up to $8,375 Up to $11,950
  • 15% $8,376 - $34,000 $16,751 - $68,000 $8,376 - $34,000 $11,951 - $45,550
  • 25% $34,001 - $82,400 $68,001 - $137,300 $34,001 - $68,650 $45,551 - $117,650
  • 28% $82,401 - $171,850 $137,301 - $209,250 $68,651 - $104,625 $117,651 - $190,550
  • 33% $171,851 - $373,650 $209,251 - $373,650 $104,626 - $186,825 $190,551 - $373,650
  • 35% $373,651 or more $373,651 or more $186,826 or more $373,651 or more

What does it mean when a person is in the 36% tax bracket?

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, this applies to taxable income. The tax brackets can vary depending on the way a person files their taxes.

What bracket would a couple be in if they are jointly filing with income of $167,000 in California?

They will have to factor in the adjustments, deductions and exemptions before they will know which one they are in. The couple may be in the highest bracket for CA, 9.3%.

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

There is not a specific one for that level of income. The highest tax bracket is 35%.

How are rates determined for people with different incomes in the same tax bracket?

Taxpayers in the first bracket who earn the least amount pay a flat rate of 10 percent in every filing category. Those who fall into the remaining brackets pay a flat rate that is applicable to everyone in that bracket and then a percentage of the income they earn over the bracket’s minimum.

Hard working people are filing for income taxes and want to know what tax bracket that they fall in. Experts can assist with tax bracket questions which many people may have. Asking an Expert will give you a better understanding.

Please type your question in the field below

3 verified Tax Professionals are online now

Tax Professionals on JustAnswer are verified through an extensive 8-step process including screening of licenses, certifications, education and/or employment. Learn more

Online
Wallstreet Esq.

Tax Attorney

Doctoral Degree

★★★★★
586 positive reviews
Online
Mark D

Enrolled Agent

Master's Degree

★★★★★
1300 positive reviews
Online
Richard

Tax Attorney

Doctoral Degree

★★★★★
4329 positive reviews
See all Tax Professionals
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.
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.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
Web sites like justanswer.com/legal
...leave nothing to chance.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.