ThomasM125
Expert Alumni

Get your taxes done using TurboTax

You need to keep in mind that the federal tax rates are graduated, which means that if you are in a marginal 22% bracket, much of your income is actually taxed at 10 to 12%. For instance, for married filing joint the first $83,549 of your income is taxed at a combination of 10 to 12%. For a single filer, the first $41,774 of income is taxed at 12% or under. 

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