Does any one know what rate of federal tax i would pay in America as a single male?

Question

Also does anyone know what the tax brackets are. ie how much of your income is taxable?

Answer 1

The rates vary from 10% - 35%, based upon your income. Here's a link to the current table: http://www.irs.gov/formspubs/article/0,,id=164272,00.html Keep in mind that these rates are applied to your TAXABLE income, not to your total income. A single taxpayer, under age 66 and not the dependent of another taxpayer is not taxed on their first $8,750 of wages for 2007.

In addition to Income Tax, all wages are subject to Social Security and Medicare taxes. The rates are 7.65% of the first $97,500 and 1.45% above that for employees and 15.3% of the first $97,500 and 2.9% above that for self-employed.

Additionallly, most states also levy an Income Tax. Rates vary widely on those, from 1% or 2% up to about 8% depending upon the state and gross income level.