For a married couple, what is the gross income you can have before you get to the 28% tax bracket?

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For a married couple, what is the gross income you can have before you get to the 28% tax bracket?

2007-09-27 05:14:15 · 3 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States

3 answers

It is not the gross income that determines your tax bracket, it is your taxable income.

If you take the standard deduction, no adjustments, and have no dependents, you would subtract about $17,500 from your gross income to get your taxable income.

The 28% bracket would start at a taxable income of $128,500 for the MFJ filing status.

2007-09-27 05:20:32 · answer #1 · answered by ninasgramma 7 · 0⤊ 0⤋

The taxable income (not gross income) was $123,700 in 2006. See page 84 of the 1040 Instructions.

2007-09-27 12:26:23 · answer #2 · answered by r_kav 4 · 0⤊ 0⤋

$123,700 in TAXABLE income. Gross income doesn't control your tax bracket.

2007-09-27 12:27:02 · answer #3 · answered by Judy 7 · 0⤊ 0⤋