2020 Tax Brackets

[OfTheCross]

For married individuals filing jointly:
10%: Up to $19,750

12%: Income between $19,750 to $80,250

22%: Income between $80,250 to $171,050

24%: Income between $171,050 to $326,600

32%: Income between $326,600 to $414,700

35%: Income between $414,700 to $622,050

37%: Income over $622,050

For unmarried individuals:
10%: Up to $9,875

12%: Income between $9,875 to $40,125

22%: Income between $40,125 to $85,525

24%: Income between $85,525 to $163,300

32% Income between $163,300 to $207,350

35%: Income between $207,350 to $518,400

37%: Income over $518,400

For heads of households:
10%: Up to $14,100

12%: Income between $14,100 to $53,700

22%: Income between $53,700 to $85,500

24%: Income between $85,500 to $163,300

32%: Income between $163,300 to $207,350

35%: Income between $207,350 to $518,400

37%: Income over $518,400

For married individuals filing separately:
10%: Up to $9,875

12%: Income between $9,875 to $40,125

22%: Income between $40,125 to $85,525

24%: Income between $85,525 to $163,300

32%: Income between $163,300 to $207,350

35% Income between $207,350 to $311,025

37%: Income over $311,025

 

[KING WILL]

Good look, thx.

 

[Human Torch]

Why is HOH the same as Unmarried Individual. I always assumed it was a benefit.

 

[humminbird]

Bump

 

[datnigDASTARDLY]

They making sure the "middle class" paying that 22%

 

[mannyrs13]

This is for the taxes we filing in January or the following year? So that means that 12% of my income getting taxed only?

 

[Nikki_04]

this the same as last year.

 

[Dafunkdoc_Unlimited]

..................just missed the 22% bracket.

Better cut-down on the OT.​

 

[OfTheCross]

..................just missed the 22% bracket.

Better cut-down on the OT.​

You're thinking about it wrong. You would only get taxed 22% on the income AFTER $53K, for example, if you're a HOH


Make more money, breh.

 

[Nobu]

..................just missed the 22% bracket.

Better cut-down on the OT.​

What dude above said. You can't make more salary and end up with less after tax. It's called progressive taxation, different chunks of your salary are taxed at different rates. Not the whole thing at a single rate.

 

[Freedman]

This is for the taxes we filing in January or the following year? So that means that 12% of my income getting taxed only?

If your single and made 44k this year you would owe ( 10% * 9875 ) + (12 * 30250) + (22% * 3875) = 5470$

 

[intruder]

24%: Income between $85,525 to $163,300

It already feels like they taking 30% anyway

 

[Scaaar]

I'm always looking at my pay stubs like this when I see how 60% of my gross is taken by deductibles

 

[OfTheCross]

It already feels like they taking 30% anyway

that 401K and health benefits, breh

 

[mannyrs13]

If your single and made 44k this year you would owe ( 10% * 9875 ) + (12 * 30250) + (22% * 3875) = 5470$

Ok cool. I'll prolly be around the 40k borderline depending on how much ot I've put in and will be able to. Last year I think I got most of it back thru out the year. Gotta see how this year looks.