3 ms·

for a salary of $40K the taxes would be around 20-30% in the US depending on your family situation

• jon_dahl 18y ago
  Total taxes in the US on a $40K salary for a single person with no other income and no other deductions: about $4,200 (10.5%). The marginal tax rate is higher, of course, and state taxes will add a little, but not too much.
  • cellis 18y ago
    haha I actually make 40K... i think its significantly higher than that. All told I think i'll be paying around 12K. (MI.)
    • mattmaroon 18y ago
      If you only make $40k and are paying 30% in taxes, you're doing something very wrong.
      • cellis 18y ago
        You are right. It was quite an exaggeration on my part. Its more like 21.5%.
        • mattmaroon 18y ago
          I've payed less than that in income tax on income much greater than that. Legally, that is. According to H&R's calculator, you should be paying under $5k, and thats with no dependents or other similar deductions.