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- To calculate your tax liability using tax tables, follow these steps:
- Add up all your income.
- Subtract any applicable deductions.
- Apply the resulting figure to the tax tables for your filing status1.
- Compute your tax liability for each tax bracket up to the one you're in23.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.You can estimate your tax liability for the year by adding up all your income and subtracting any applicable deductions, and then applying that figure to the tax tables for your filing status.www.businessinsider.com/personal-finance/what-i…Your tax liability is computed for each tax bracket up to the one you're in. Here's how it works: Your first $10,275 is taxed at 10%, so you owe $10,275 x 10% = $1,028 The amount over $10,275 but under $41,775 is taxed at 12%, so you owe $31,500 x 12% = $3,780www.investopedia.com/terms/t/taxliability.aspTo calculate your tax liability, each bracket up to yours is used:
- The first $10,275 is taxed at 10%, which equals $1,028.
- Then, the amount from $10,275 to $41,775 is taxed at 12%, which equals $3,780.
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