ebartee Wrote:
Sep 05, 2012 4:41 PM
You make 250,001 you are still in the 33% tax bracket and pay =82.5k in taxes, but you get to pay an extra 3%... That is how the tax code works... Except that's not how the tax code works. you do get the pay the extra 3%...but only on the income IN THE HIGHEST TAX BRACKET! In this case $1 which would cost you an extra $0.36...Look explanation below...or look at the IRS website...or any other number of web sites devoted to the US tax code...