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How much do you actually make?
GROSS and NET INCOME How much do you actually make?
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Take how pay Gross income is before taxes and deductions
Net income is after taxes and deductions Take your pay and multiply it by 12 (Total Gross income per year)
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For the Lower Middle or Middle Class
If you make $42,707 or less, you must pay 15% Income x 0.15 = Taxes Taxes and divide it by 12= Taxes you pay per month If you make between $42,707 and $85,414 you must pay 22% Income x 0.22= Taxes
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For The Richer Half If you make between $85, 414 and $132,406, you must pay 26% Income x 0.26 = Taxes Taxes and divide it by 12= Taxes you pay per month If you make more than $132,406, you must pay 29% Income x 0.29 = Taxes
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