Developer's description:
Tax brackets shows tax that is paid on the "last" dollar earned. Tax brackets estimates additional tax that you would pay on additional income.
New review:
Tax brackets shows tax that is paid on the "last" dollar earned. Tax brackets estimates additional tax that you would pay on additional income.
The higher is your taxable income, the higher your federal tax rate is. Supposedly you earn additional $500 and you are in 25% bracket. That would result in additional $125 taxes.
Tax Brackets Calculator shows current and past tax brackets and calculates federal tax for years 2000-2005 based on your filing status.
Average tax rate - tax rate as a percentage of your income, which is usually lower than tax bracket rate is also calculated.
Final note:
Tax Brackets Calculator - a neat little piece of software designed to help you determine your taxes.
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