How do I calculate my tax bracket?
An example of an AI chatbot conversation about calculating tax brackets.
How do I calculate my tax bracket?
To calculate your tax bracket, you'll need to know your taxable income and the tax rates for your filing status.
What is taxable income?
Taxable income is your total income minus any deductions or exemptions you qualify for.
Can you give me an example?
Sure! If you earn $50,000 and have $10,000 in deductions, your taxable income would be $40,000.
What are the current tax rates?
Tax rates can vary by year and filing status. For 2023, the rates range from 10% to 37% depending on your income level.
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