The salary we get each month will determine the taxes we are going to pay in the following years. The more income, the more taxes we have to pay to the IRS. This works the same in all the United States, although some States may have different taxes depending on each situation.
What is certain is that $44,000 is a very important barrier in this year 2024. Those who exceed that income may have to pay more taxes, so we must watch out when making our Tax Return, since we must take into account that we have to pay more taxes.
So, it is true that we are talking only about a citizen who makes the declaration alone. This changes in the case that we make a joint declaration or as head of the family. At the moment we are only talking about this category of IRS filer.
IRS taxes on wages under $44,000
As we have already discussed, the category in which we file our taxes is really important. If we do not live alone or do not file alone, the amount of taxes payable to the IRS is different. But in the case of filing alone, the tax bracket can be very different from one step to the next.
For a single filing separately, this is the tax bracket you will pay in this year 2024 with 2023 income. As you can see, if we earn less than $44,000, the payment is only 12%, something very much to keep in mind.
|
Tax Rate |
Single person |
|---|---|
|
10% |
$11,000 or less |
|
12% |
$11,001 to $44,725 |
|
22% |
$44,726 to 95,375 |
|
24% |
$95,376 to $182,100 |
|
32% |
$182,101 to $231,250 |
|
35% |
$231,251 to $578,125 |
|
37% |
Over $578,125 |
Even so, it is true that by next year 2025, the 2024 income may be higher and still pay less tax. In this case, we should take into account the following table:
|
Tax Rate |
Single person |
|---|---|
|
10% |
$11,600 or less |
|
12% |
$11,601 to $47,150 |
|
22% |
$47,151 to $100,525 |
|
24% |
$100,526 to $191,950 |
|
32% |
$191,951 to $243,725 |
|
35% |
$243,726 to $609,350 |
|
37% |
Over $609,350 |
So you know that by the time we do the Tax Return in 2025 you will have to pay a little less tax even if your salary is higher. In case you have already sent your Tax Return in 2024 you will have seen all this reflected in the documentation. Remember that until October 15 it is possible to send the Tax Return to the IRS, but only for those specific Americans who have the possibility of an extension of the deadline.
Also, don’t forget that Social Security beneficiaries must also file a Tax Return in many cases. It’s true that it all depends on the retirement check they have, but some have to make a payment, which makes the Tax Return to the IRS mandatory.
