{"id":1493,"date":"2022-12-22T08:00:12","date_gmt":"2022-12-22T08:00:12","guid":{"rendered":"https:\/\/www.planningmadesimple.com\/?p=1493"},"modified":"2022-12-22T16:26:26","modified_gmt":"2022-12-22T16:26:26","slug":"federal-income-tax-brackets-for-2022","status":"publish","type":"post","link":"https:\/\/www.planningmadesimple.com\/resources\/federal-income-tax-brackets-for-2022\/","title":{"rendered":"Federal Income Tax Brackets for 2022"},"content":{"rendered":"
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The U.S. has seven federal income tax brackets for the year 2022, which are; 10%, 12%, 22%, 24%, 32%, 35%, and 37% respectively. If you\u2019re one of the lucky few to earn enough to fall into the 37% bracket, that doesn\u2019t mean that the entirety of your taxable income will be subject to a 37% tax. Instead, 37% is your top marginal tax rate. The top marginal income tax rate of 37% is for individuals with a taxable income of above $539,900 for single filers and married couples filing joint returns, above $647,850.<\/p>\n
With a marginal tax rate, you only pay that rate on income that falls within a specific range. Consider the 10% bottom tax rate to gain an understanding of how marginal rates operate. All income for single filers between $0 and $10,275 is taxed at a rate of 10%. If your taxable income is $10,550, the first $10,275 is taxed at a rate of 10%, and the final $275 is taxed at the rate for the following bracket (12 percent ).<\/p>\n