Income Tax Bracket
So you pay a little out of your paycheck while you are working now! For our purposes, you will pay 7.5% on your yearly TAXABLE INCOME. Example: If you make $50,000 a year, you would pay (.075)(50,000) or $3,750. FEDERAL INCOME TAX: This is the big chunk and most complicated! So, Bewar The more money you make, the more you pay! ................
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