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A: Different levels of income are taxed at different percentages, which vary year by year, and also according to your filing status. Your particular tax bracket will tell you at what rate your income (your taxable income) will be taxed. The rate of taxation is applied only to your taxable income. You can go to a TAX BRACKET ESTIMATOR TOOL and also see a table to determine and understand your tax bracket and tax rate for 2014 and for earlier tax years by clicking on the calculator picture link.
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READ MORE>> efile.com: 2014 Federal Income Tax Brackets, 2015 Refund Estimator
Call GBC Income Tax Services today at 678-366-9232 for all your tax and IRS needs!
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