To make things easier, here are four cheat sheets for determining the amount of tax you need to pay, organized by filing status: Individual single filers The math involved in calculating how much you owe from each вЂchunkвЂ™ of income can get complicated. How do I calculate my taxes using these tax brackets? In this example, your marginal tax rate is 12%. We call the highest tax rate that you pay your marginal tax rate. In equation form, weвЂ™d write this out as: So youвЂ™ll pay two different tax rates: 10% on the first $10,275 вЂchunkвЂ™ of your income, and 12% on every dollar you made above $10,275. The $0 - $10,275 bracket, which taxes you at 10% That means youвЂ™ll fall into two different tax brackets and get taxed at two different rates: This means different parts of your income is taxed at a different rate.ДЇor example, letвЂ™s say that your taxable income ends up being $20,000. Unless you made $10,275 or less in taxable income in 2022, itвЂ™s likely you fall into at least two brackets. LetвЂ™s take the IRS tax brackets for individual single filers in 2022: Tax rate (Keep in mind, these brackets are for income tax only capital gains tax uses its own set of brackets.) Once youвЂ™ve calculated your taxable income, itвЂ™s time to look at the IRSвЂ™s tax rate schedule-a fancy term for вЂbig list of tax system bracketsвЂ™-for the year youвЂ™re doing your taxes for. (Check out BenchвЂ™s Big List of Small Business Tax Deductions for more info.) Tax brackets are based on your taxable income, which is what you get when you take all of the money youвЂ™ve earned and subtract all of the tax deductions youвЂ™re eligible for. Married filing jointly or qualifying widow(er) ItвЂ™s broken into the four most common filing statuses: individual single filers, married individuals filing jointly, heads of households, and married individuals filing separately: Tax rate

These brackets apply to your 2022 tax filing.

Here are the 2021 tax brackets according to the IRS. Which tax bracket you fall into in the United States also depends on your filing status. What are the 2021 federal income tax brackets?

Tax brackets for 2021