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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.
Your tax bracket is the rate you pay on the last dollar you earn; but as a percentage of your income, your tax rate is generally less than that. 17,060.00. This puts you in the 25% tax bracket, since that's the highest rate applied to any of your income; but as a percentage of the whole $100,000, your tax is about 17%.