Hello,
My domestic partner is on my health insurance plan and my employer charges me for the imputed income (roughly $9K-$10K a year or so). I am trying to determine the total amount in taxes I am paying for this increase in taxable income. Can someone tell me if I am figuring this correctly:
- Imputed income: $10,000
- Taxable income: $80,000
- Tax: 13,500
If I'm paying $13,500 in taxes on $80,000 in taxable income, my tax rate seems to be 17% (13,500 / 80,000)
THEREFORE, is the amount I'm paying in taxes on the $10,000 imputed income equal to $1,700?
Thank you for your help!
