Discussion:27% Tax Bracket
From TaxAlmanac, A Free Online Resource for Tax Professionals
Note: You are using this website at your own risk, subject to our Disclaimer and Website Use and Contribution Terms.
From TaxAlmanac
Discussion Forum Index --> Accounting Questions --> 27% Tax Bracket
| 10 September 2008 | |
| Am trying to familiarize myself with taxes and the 401Ks and started reading “401(K)s for Dummies” by Ted Benna and Brenda Watson Newmann.
On page 12 the authors give an example of someone (without a 401K) and stated that that person made $2000 in a given pay period and was in the 27% the Fed tax bracket. The example says that he had a federal tax of $350. I must be doing something wrong because I come up with more like $540 tax $190 difference. $2000 x .27 = $1000 x 2 x .27 = $1000 x .54 = $540 Could anyone tell me where I figured wrong? | |
| 10 September 2008 | |
| Its all explained in the book Income Tax For Dummies by Ted Benna. | |
To join in on this discussion, you must first
log in.
