If I make 30,000 a year and I am single, what tax bracket will I be in?
Answer:
Schedule X — Single if taxable income is over $7,550 but not over $30,650 tax is $755 plus 15% of the amount over 7,550.
This puts $30,000 in the upper and of the 15% bracket. Don't forget the personal exemption of $3200 and the $5000 standard deduction. You taxable income is about $23,800.
a very low one
Look in the back of the tax book, or go to the IRS website.
THE HIGHEST ONE .
SINGLE , IS THE ONE THEY WILL ALWAYS TAKE THE MOST OF. GOOD LUCK , TRY TO GET SOME WRITE OFFS . SUCH AS INTEREST ON PROPERTY YOU OWN, OR BUY SOME PROPERTY TO GET THE WRITE OFFS ...JUST MY THOUGHTS
you just bascially made the 25% tax bracket. you can go to
http://www.irs.gov/formspubs/article/0,,.
to see all the brackets by income.
but here it is for 2006
Schedule X — Single
If taxable income is over-- But not over-- The tax is:
$0 $7,550 10% of the amount over $0
$7,550 $30,650 $755 plus 15% of the amount over 7,550
$30,650 $74,200 $4,220.00 plus 25% of the amount over 30,650
$74,200 $154,800 $15,107.50 plus 28% of the amount over 74,200
$154,800 $336,550 $37,675.50 plus 33% of the amount over 154,800
$336,550 no limit $97,653.00 plus 35% of the amount over 336,550
Hope this helps
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