Effective Tax Rate 2024

Please help,

2023 Gross income 70,738.00; taxable income 54,986.00

Total tax 3,459.00

Effective Tax rate 4.89 %

2024 Gross income 92,093; taxable income 75,455.00

Total tax 10,040.00

Effective Tax rate 10.90

WHY SUCH A BIG JUMP IN TAX RATE? Help please

posted

IF you are filing as Single, or MFS, all of that extra income went into the 22% tax bracket:

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

Do you have an Intuit account?