which tax bracket?
Jack
information on tax brackets. Specifically, which one I am in.
Does anyone have a link to a tax bracket table or something like that? I
just want to know what percentage of my paycheck is going to the Feds.
Thanks.
Criswell The Psychic Weatherman
The amount you think you want is the marginal rate, but that's the top rate
for your last dollar. Because of the standard or itemized dedcutions and
personal exemptions, the first several thousand dollars aren't taxed at all.
The table you're looking for is in the instructions for form 1040 at the end
of the tax tables. Oddly the web version doesn't have the tables or the
chart.
--
"A belief is not merely an idea the mind possesses;
it is an idea that possesses the mind." Robert Bolton
Criswell The Psychic Weatherman
sse...@mindless.com
Rich Carreiro
> I have searched high and low on the IRS website, and have not found any
> information on tax brackets. Specifically, which one I am in.
You want the 2003 Form 1040ES. You can get it by
clicking on the "Individuals" link on the IRS
home page, then "Forms and Publications" and follow
from there.
> Does anyone have a link to a tax bracket table or something like that? I
> just want to know what percentage of my paycheck is going to the Feds.
Knowing only what bracket you're in won't tell you that.
You need to know your taxable income and the full
bracket structure (which Form 1040ES has).
--
Rich Carreiro rlc...@animato.arlington.ma.us
"Home is where you wear your hat." "Character is what you are in the dark."
Phil Marti
<no...@anonymous.com> writes:
>I
>just want to know what percentage of my paycheck is going to the Feds.
Then remember your basic math lessons and compute it. Take last year's return,
divide your total tax by your gross income, multiply by 100 and you have the
percentage that went to income tax. It in no way resembles your "bracket" or
"marginal" rate.
If you want to include the effect of SS and Medicare, grab those figures off
your W-2 and add them to the total tax shown on your 1040. BTW, if you have
pre-tax deductions reflected on the W-2, e.g. a 401(k), don't forget to add
those back into your gross income.
Phil Marti
Topeka, KS
Herb Smith
> The table you're looking for is in the instructions for form 1040 at the end
> of the tax tables. Oddly the web version doesn't have the tables or the
> chart.
The IRS publishes the Tax Tables and Rate Schedules as a separate PDF
file on the website. You have to download both.