Current Income Tax

 

  • 10% on taxable income from $0 to $8,500
  • 15% on taxable income from $8,500 to $34,500
  • 25% on taxable income from $34,500 to $83,600
  • 28% on taxable income from $83,600 to $174,400
  • 33% on taxable income from $174,400 to $379,150
  • 35% on taxable income over $379,150
    __________________________________________________________________________________________
If you are single and earned $100,000 in income before taxes...

_From buying and selling stock or_
property your marginal rate is
15% or $15,000

You keep $85,000
.

_From your LLC (Payroll tax is a deductable_
business expense) your marginal rate is
28% or $28,000

You keep $72,000
.

_From salary paid by an employer your_
marginal rate is 28% plus you also
paid 6.2% in Payroll tax or $34,200

You keep $65,800
.