If you have a ROTH 401k or IRA like us, no handy dandy reduction of income. Maybe I am also personally seeing higher taxes than the fictional family of three with 100k income because we are above the 110k level.
I copied the below information from another site. . . and this doesn’t take into account CA state taxes, which are 9.3% for everything over 40k.
To take an example, suppose your taxable income (after deductions and exemptions) was exactly $100,000 in 2003 and your status was Married filing separately; then your tax would be calculated like this:
( $ 7,000 – 0 ) x .10 : $ 700
( 28,400 – 7,000 ) x .15 : 3,210
( 57,325 – 28,400 ) x .25 : 7,231
( 87,350 – 57,325 ) x .28 : 8,407
( 100,000 – 87,350 ) x .33 : 4,175
Total: $ 23,723
This puts you in the 33% tax bracket; but as a percentage of your income, your tax is about 23.7%.
