If you are Single, your deductions (if you don't itemize) are $8,750. Here is the federal tax rate for Single on taxable income (income after deductions):
is over-- But not over--The tax is:
$0 -- $7,825 -- 10% of the amount over $0
$7,825 -- $31,850-- $782.50 plus 15% of the amount over 7,825
$31,850-- $77,100 --$4,386.25 plus 25% of the amount over 31,850
$77,100-- $160,850 --$15,698.75 plus 28% of the amount over 77,100
2007-10-21 23:15:27
·
answer #1
·
answered by MukatA 6
·
0⤊
0⤋
Interesting reading this from you guys in the US. In Australia the 30% rate kicks in at about $30000 Au. We have a $6000 tax free threshold though.
2007-10-22 00:51:14
·
answer #2
·
answered by fayezipdee 2
·
0⤊
0⤋
Your top federal will be 28% but the average will be less.see
http://www.irs.gov/formspubs/article/0,,id=150856,00.html
You will also pay social security of 6.2% on most of your income ( the amount less than about $100,000) and medicare taxes 1.5% on all of it.
Most states also have an income tax, but he amount varies with the state but it always less than 10%.
If you will be here less than 5 years you should check this out.
http://www.foreignborn.com/self-help/social_sec/8treaties.htm
2007-10-21 23:19:35
·
answer #3
·
answered by meg 7
·
1⤊
0⤋
Go here for some handy estimators: http://www.paycheckcity.com
Your ultimate tax liability depends upon many factors including age, filing status, number of dependents, itemized deductions, etc.
2007-10-21 23:04:44
·
answer #4
·
answered by Bostonian In MO 7
·
0⤊
0⤋
30% for singles u will get 7000$
2007-10-21 22:54:21
·
answer #5
·
answered by Anonymous
·
0⤊
0⤋
http://en.wikipedia.org/wiki/Income_tax_in_the_United_States
2007-10-24 07:24:56
·
answer #6
·
answered by boyzmadison 3
·
0⤊
0⤋