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For an individual, if your taxable income (after deductions) is $89,075 then your tax burden is:
$1,072.50 (10% of $10,725) plus
$3,725.88 (12% of the amount between $10,726 and $41,775 -- $31,049) plus
$10,407.78 (22% of the amount between $41,776 and $89,075 -- $47,299 )
for a total tax burden of $15,204.16 which equates to a marginal tax rate ($15,204.16 / $89,075.00) of 17.1%.
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Dale
1985 Carrera 3.2 -- SOLD
2026 Jaguar F-Pace / 2025 Ford Bronco Sport
Last edited by Flat Six; 01-19-2023 at 08:08 AM..
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