He didn't flip-flop, he bluffed. Trouble is he got called out on his bluff and started to choke.
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Single withholding rate is around 25%Originally posted by Tanasi View PostI don't know what you do for a living or how much you make but odds are good that you fall into the 10% bracket like the majority that pay federal income tax.
Married is around 17%
10% tax rate is only for the first $7000 for single people and first $14,000 for married couple after that it's 15% up to $23,400 single and $56,800 married.
IRS withholding tables
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You left some very important words out, there. "Of taxable income." You're leaving out the Standard Deduction, which means that the first $5800 of income for each person ($11600 for couples, which is precisely double) isn't taxed. So, your tax rate doesn't go out of the 10% bracket until you've earned $12,800. And then the 15% rate only applies to income after the $12,800. If you earn $13,000 (for example), you only get taxed 15% on $200; 10% on $7000; and nothing at all on $5800.Originally posted by BlaqueKatt View PostSingle withholding rate is around 25%
Married is around 17%
10% tax rate is only for the first $7000 for single people and first $14,000 for married couple after that it's 15% up to $23,400 single and $56,800 married.
IRS withholding tablesLast edited by Nekojin; 11-10-2012, 12:35 AM.
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