3 ms·
The federal tax brackets are the same everywhere you go. If you're married and making 350k, most of your income will fall in the ~23% tax bracket. And a small p
by whack 6y ago
The federal tax brackets are the same everywhere you go. If you're married and making 350k, most of your income will fall in the ~23% tax bracket. And a small portion will be taxed at 32%.
The main variable is state taxes. If you're living in California, most of your income will be taxed at ~9.3%. With a small portion taxed at 10.3%.
So your marginal tax rate will be 43%, and your overall tax rate will be closer to ~33%.
Nit: USA does not tax bonuses any differently from salary. They are both interchangeable, when computing taxes. Also, all income-percentile metrics in USA are based on pre-tax income, not post-tax.
https://taxfoundation.org/publications/federal-tax-rates-and-tax-brackets/ https://taxfoundation.org/publications/federal-tax-rates-and...
https://www.nerdwallet.com/article/taxes/california-state-tax https://www.nerdwallet.com/article/taxes/california-state-ta...
- thebean11 6y agoI'm seeing 38% effective tax rate with 300k in CA all things considered. But anyway I agree, 50% of bonus doesn't reflect the total amount or the way things are taxed.