Federal income tax question. Let’s say my mid-year raise took me into the next tax bracket. Can someone explain to me how my gross monthly income is taxed with the change in salary?

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The next tax bracket is only relevant for the amount you make above that threshold. So say you got a raise from $85k to $90k. Only the $3,625 above the 22% bracket max of $86,375 would be taxed at the 24% rate. So in this scenario, you’d owe $870 on that $3,625 as opposed to $797.50 if that money was under the 22% bracket max.

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THANK YOU so so much. Explained to the T 🙌🏻

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