Comments on: 2007 Federal Income Tax Brackets http://allfinancialmatters.com/2006/09/20/2007-federal-income-tax-brackets/ A personal finance blog dedicated to discussing such topics as budgeting, asset allocation, 401K, IRA, cash flow, insurance, financial planning, portfolio management, and other areas in personal finance. Sat, 11 Feb 2012 20:32:19 +0000 hourly 1 http://wordpress.org/?v= By: Lina http://allfinancialmatters.com/2006/09/20/2007-federal-income-tax-brackets/comment-page-1/#comment-412244 Lina Thu, 02 Apr 2009 23:03:30 +0000 http://allthingsfinancialblog.com/?p=1186#comment-412244 How do you calculate Federal tax and California State tax? I know Federal is 25%. Please help! How do you calculate Federal tax and California State tax? I know Federal is 25%. Please help!

]]> By: nazrene http://allfinancialmatters.com/2006/09/20/2007-federal-income-tax-brackets/comment-page-1/#comment-375942 nazrene Mon, 03 Nov 2008 22:33:29 +0000 http://allthingsfinancialblog.com/?p=1186#comment-375942 I have been out of a job for a year taking care of an ill parent. My tax bracket then is 10% (is that right - with no income?) so if I were to withdraw my 401K, what percentage will go to taxation? Any advise will be appreciated - Thank you I have been out of a job for a year taking care of an ill parent. My tax bracket then is 10% (is that right – with no income?) so if I were to withdraw my 401K, what percentage will go to taxation?

Any advise will be appreciated – Thank you

]]> By: JL http://allfinancialmatters.com/2006/09/20/2007-federal-income-tax-brackets/comment-page-1/#comment-344414 JL Thu, 07 Aug 2008 19:31:41 +0000 http://allthingsfinancialblog.com/?p=1186#comment-344414 Are federal, state, medicare and social security taxes all calculated from the gross income individually, or are they calculated based on the adjusted amount, for example AFTER federal tax is subtracted, etc. (ie, is the state tax calculated from my gross, or from my gross minus federal tax). If they are not all based on the raw gross, what ORDER are they calculated in? (first federal, then state, etc?) Are federal, state, medicare and social security taxes all calculated from the gross income individually, or are they calculated based on the adjusted amount, for example AFTER federal tax is subtracted, etc. (ie, is the state tax calculated from my gross, or from my gross minus federal tax). If they are not all based on the raw gross, what ORDER are they calculated in? (first federal, then state, etc?)

]]> By: federal income tax brackets http://allfinancialmatters.com/2006/09/20/2007-federal-income-tax-brackets/comment-page-1/#comment-330874 federal income tax brackets Tue, 08 Jul 2008 21:58:56 +0000 http://allthingsfinancialblog.com/?p=1186#comment-330874 [...] [...] [...] [...]

]]> By: Miguel http://allfinancialmatters.com/2006/09/20/2007-federal-income-tax-brackets/comment-page-1/#comment-200969 Miguel Mon, 31 Dec 2007 16:57:38 +0000 http://allthingsfinancialblog.com/?p=1186#comment-200969 jkhatun: the 25 % tax refers only to the federal tax portion of your taxes. This 25% tax bracket is based on your adjusted gross income between $31,850 and $77,100. social security is 6.2% for employees up to $97,500 in earnings Medicare is currently at 1.45% for employees. jkhatun:
the 25 % tax refers only to the federal tax portion of your taxes. This 25% tax bracket is based on your adjusted gross income between $31,850 and $77,100.

social security is 6.2% for employees up to $97,500 in earnings
Medicare is currently at 1.45% for employees.

]]> By: Ed Lewis http://allfinancialmatters.com/2006/09/20/2007-federal-income-tax-brackets/comment-page-1/#comment-197492 Ed Lewis Wed, 26 Dec 2007 20:40:14 +0000 http://allthingsfinancialblog.com/?p=1186#comment-197492 What tax bracket makes it an advantage to do the 2007 IRA Charitable Contribution? What tax bracket makes it an advantage to do the 2007 IRA Charitable Contribution?

]]> By: CJD http://allfinancialmatters.com/2006/09/20/2007-federal-income-tax-brackets/comment-page-1/#comment-173468 CJD Sun, 18 Nov 2007 13:16:52 +0000 http://allthingsfinancialblog.com/?p=1186#comment-173468 Paul your total tax would be $6650 or about 16 % Paul your total tax would be $6650 or about 16 %

]]> By: jkhatun http://allfinancialmatters.com/2006/09/20/2007-federal-income-tax-brackets/comment-page-1/#comment-165320 jkhatun Fri, 02 Nov 2007 15:23:09 +0000 http://allthingsfinancialblog.com/?p=1186#comment-165320 when you say 25% tax bracket, does that include taxes for Fedral, SS tax and Medicare tax?? for example my HR statement shows x amount for federal; x amount for SocialSec. Tax; and Medicare Tax, are all these tax calculated into the 25% or just the federal tax? please advice! when you say 25% tax bracket, does that include taxes for Fedral, SS tax and Medicare tax?? for example my HR statement shows x amount for federal; x amount for SocialSec. Tax; and Medicare Tax, are all these tax calculated into the 25% or just the federal tax? please advice!

]]> By: NCMantle http://allfinancialmatters.com/2006/09/20/2007-federal-income-tax-brackets/comment-page-1/#comment-164687 NCMantle Wed, 31 Oct 2007 18:15:29 +0000 http://allthingsfinancialblog.com/?p=1186#comment-164687 Thanks for replying - what about anything under 349,700? at what rate is that taxed? Thanks for replying – what about anything under 349,700? at what rate is that taxed?

]]> By: JLP http://allfinancialmatters.com/2006/09/20/2007-federal-income-tax-brackets/comment-page-1/#comment-164662 JLP Wed, 31 Oct 2007 17:16:56 +0000 http://allthingsfinancialblog.com/?p=1186#comment-164662 NCMantle, No, that's not true. Anything OVER $349,700 is taxed at 35%. NCMantle,

No, that’s not true. Anything OVER $349,700 is taxed at 35%.

]]>