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Why is the equivalent tax rate so different when I add a W-2 of less than $8000?
Why is the equivalent tax rate so different when I add a W-2 of less than $8000? Income of $162547 yields tax of $32467 for rate of 19.9%. Income of $170202 yields tax rate of $34610 for rate of 20.33%. Additional income of $7655 is apparently taxed at $2143 for a rate of 28%. Why so high for the additional $7655 income? I have attached my TurboTax file; just toggle the Kohl's W-2 on and off to see the differences.
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‎June 1, 2019
10:15 AM