What your marginal federal tax rate

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Reference no: EM13267780

Imagine that your total gross income for the year is 94.7 thousand. After all the deductions and exemptions, you find that your taxable income is 72.9 thousand. Assume the federal tax brackets are as follows:

0-9k: 10%
9-36k: 15%
36-88k: 25%
88-183k: 28%
183-398k: 33%

What your marginal federal tax rate? (What percent of your next dollar earned is lost via taxes?)

Reference no: EM13267780

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