2007-10-15 03:17:24 · 3 answers · asked by Sujan Panday 1 in Business & Finance ➔ Taxes ➔ United States
It depends on your income, your allowable deductions and adjustments, and family size. Almost half of people don't pay any income tax, but they do pay 7.65% for social security and medicare.
The federal income tax system is graduated, which means that higher percentages are paid on higher amounts of income. Tax rates range from zero to 33%.
Most states have an income tax also - that can range from a couple percent to almost 10%.
2007-10-15 06:33:45 · answer #1 · answered by Judy 7 · 0⤊ 0⤋
Income tax is based on adjusted gross income. The higher the gross income, the higher the tax bracket.
2007-10-15 10:33:40 · answer #2 · answered by Anonymous · 1⤊ 0⤋
Estimate your own. Use a pencil with an eraser and figure it both ways.
2007-10-15 13:29:58 · answer #3 · answered by Anonymous · 0⤊ 0⤋