Rosary Bay is a Christian mission-driven online resource and shop inspired from the beauty of Catholic faith, tradition, and arts. we promote fully Traditional Catholic Latin Mass, Sacraments, Doctrine, and Morality. Â© 2016 Rosary Bay. All Rights Reserved.
How Federal Income Tax Brackets Work. Say a married couple, filing jointly, in 2016, had a taxable income of $175,000. Each dollar over $151,900âor $23,100âwould fall into the 28% federal income tax bracket. However, the couples' total federal tax would have been $35,986âjust about 20%, of their adjusted gross income.
Tip. 1  The wage bracket method is an alternative way of calculating federal and sometimes state income tax. 2  If youâre not sure what taxes -- or how much -- apply to your employees, contact the IRS for federal requirements and the state revenue agency for state guidelines.n most cases, payroll taxes are withheld at percentages of employeesâ taxable wages or salary. Percentage amounts vary by tax and the rules of the administering agency. Standard paycheck taxes include federal income tax, Social Security tax, Medicare tax, and if applicable, state and local taxes.