Starting Gross Annual Income: (under $65,000)
Step 2: Calculate Taxable Income
Enter your gross income from step one and subtract the standard deduction to determine
your taxable income.
Starting Gross Income
- Standard Deduction
Taxable Income
(Enter Starting Gross
$12,950
= 52,050
Income)
Step 3: Calculate Income Taxes
Using the marginal tax rate table, break down your taxable income into each bracket, then
calculate your taxes paid in each bracket. Add them together at the bottom to find your
total taxes paid.
Marginal Tax Rate Table - Show your work
Tax Rate
Tax Bracket
How much taxable money do
you make in this bracket?
Calculate taxes paid
10%
$0-$9,700
12%
$9,701-$39,475
22%
$39,476-$84,200
Total Taxes Paid: