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  2. As the yearly income increases, you'll owe the following for each tax bracket:

    • 10% from $0-$19,400, or $1,940
    • 12% from $19,401-$78,950, or $7,145.88
    • 22% from $78,951-$168,400, or $19,678.78
    • 24% from $168,401-$321,450, or $36,731.76
    www.thestreet.com/taxes/tax-brackets-14721572

    Single filers with less than $10,275 in taxable income are subject to a 10% income tax rate (the lowest bracket). Single filers who earn more than $10,275 will have the first $10,275 taxed at 10%, but earnings beyond the first bracket and up to $41,775 will be taxed at a 12% rate (the next bracket).

    www.investopedia.com/terms/t/taxbracket.asp
     
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