Taxes Paid As a Percentage of Income?

Answer When you prepare a federal income tax return, one of the last lines you fill out is the amount of tax you owe for the year using the tax tables in the instructions. You may not even realize it, but... Read More »

Top Q&A For: Taxes Paid As a Percentage of Income

What percentage of my income goes towards taxes?

According to the Internal Revenue Service, on wages paid in 2010 income taxes range from 15 to 35 percent of an individual's wages. An individual can earn up to $84,449 and will pay 29 percent or l... Read More »

What percentage of taxes are paid by the wealthy?

The richest 20 percent of Americans pay 68 percent of all taxes while the wealthiest 1 percent pay 27 percent, according to N. Gregory Mankiw in his book "Principles of Economics." The United State... Read More »

What percentage of your yearly income goes to taxes?

Roughly 28%, of course varying greatly by job, gross earnings and age.

What percentage of US citizens file income taxes?

Anyone who receives compensation in a given year has to file. But only about 45% of the people who are actually employed PAY income taxes. If a person is below a certain income level the government... Read More »