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February 16, 2023
Question

My adjusted income X combined tax rate of 17% os not correct. Its only off by $10, but anyone know why?

  • February 16, 2023
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February 16, 2023

If you are referring to your Federal income taxes, the tax rate brackets for 2022 are 10%, 12%, 22%, 24%, 32%, 35%, and 37%. To see how the tax brackets apply to you for this year and for a tool to determine your marginal (the highest part of your income) tax rate, see here.

 

Also, note that taxes are often calculated using a different method than the tax tables. For example, if you have capital gains, the tax on those is calculated at the capital gain rate for your income level. If you are self-employed, you may have self-employment taxes in addition to income taxes.

 

You can preview your return before filing to find out how your taxes were calculated. See here for details. 

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