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wendy, who is single, worked her way through college earning an annual taxable income of $12,000 in 2021. her first job after graduation will give her a taxable income of $35,000 per year. using the tax table, what is her marginal tax bracket in 2021 while she is still in school and what will it be when she graduates?

Respuesta :

Marginal tax bracket in 2021 while she is still in school is 34 percent, and it will be 34 percent when she graduates.

What is the typical tax rate I pay?

Divide total taxable income by total taxes to get the average tax rate. By isolating the absolute pay by the all out charges paid in each section, the typical duty rate not set in stone. The average tax rate will always be lower than the marginal rate.

For $92000, what is the tax rate?

If you live in California, USA, and earn $92,000 annually, you will owe $26,681 in taxes. Your net pay will therefore be $65,319 per year, or $5,443 per month. Your average tax rate is 29.0%, while your marginal tax rate is 41.0 percent.

Taxable income divided by income times 100 is the marginal tax rate.

12000 / 35000 = 0.34 * 100 = 34%

Learn more about Marginal tax here:

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