2024 Tax Brackets Married Filing Separately Meaning
2024 Tax Brackets Married Filing Separately Meaning . Married couples have the option of filing their tax returns jointly or separately, depending on which filing status suits their needs. What is a marginal tax rate?
For example, for a married couple filing jointly with $95,000 in taxable income, their marginal tax rate for 2024 would be 22% even though they are only paying that tax rate on a few hundred. You pay tax as a percentage of your income in layers called tax brackets.
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