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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.
But, what might stand out on your paycheck and have you scratching your head is a tax column labeled FICA.. You might be wondering what this FICA tax is and why you don't have the same luxuries to control how it taken out of your wages as you do with federal and state income taxes. Let's take a closer look.