I earn $130,000 a year. What tax bracket am I in?

Question

I earn $130,000 a year. What tax bracket am I in?

Answer 1

Same  as  last  year's   unless  you  got  married  to  an  unemployed  person  !

Or  bought   real  estate   with  a  mortgage   or

Invested  in  equities  with  variable  capital  rate  gains  tax   or

Put  max  amounts  in  a  traditional  IRA   or

Made  large  charitable  contributions  this  year   or  .   .   .

http://www.irs.gov/

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Answer 2

Can't tell, since it depends on your filing status, and your deductions, credits and dependents.  If you are single, probably 28% bracket.  If you are married filing a joint return, probably 25% if your spouse doesn't also have income.

You do realize that your bracket doesn't mean you pay that % of all of your income, you just pay that much on the highest dollar(s) that you earn and on any additional income?  The total % of your total income that you pay for federal income tax is far less.

Answer 3

Depends on your exemptions, deductions, investment losses, etc.  In tax terminology it's called AGI (adjusted gross income).  The rate is just dependent on that one number./

Answer 4

If your taxable income is $130,000 (after deductions) and you are filing single, then your tax rate is 28%.  If your taxable income is the same and you are married filing jointly, then your tax rate is 25%.  

Answer 5

28% if single (assuming USA) plus state tax if any.  Maybe if married too unless you have kids, enough itemized deductions, and/or are socking away a bunch in a 401k or other retirement plan.

So every $1 you get in savings interest costs you $0.28 in federal income tax.