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Old 11-22-2005, 10:05 AM
KaneKungFu123 KaneKungFu123 is offline
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Join Date: Feb 2005
Posts: 1,026
Default Question about taxes.....

is all of your money taxes at the highest tax bracket 35%, or is only the money over a certain amount $326K subject to the 35% rate.

in short, if line 43 on 1040 2005 is around 550K, what should the tax be. I have my fingers crossed that it is not
550,000(.35) - 19,500 = $173,000

1040 instructions
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