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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.
Find ways to help create a strategy that defers, manages, and reduces taxes. You may know your federal income tax bracket. But that's not really what you pay. In fact, the middle 20% of Americans by income pay about 13% of income in federal income taxes. But that average hides a great deal of variation: Some Americans pay nothing, and others pay more than 30%.1.