I wanted to try out the new Tableau Public so I took the Average Tax Rates I calculated for my Comparing Rates by Income series and created this little graph. A couple disclaimers: I am assuming standard deduction and exemptions for the children and/or spouse in each example. Also I am combining all the taxes applied to your salary including: Income, Social Security, Medicare, and Payroll (paid by your employer).
Since this is a live, interactive chart you can hide/show each line using the check boxes at the bottom of the graph.
The sixth in series of infographics I am designing to illustrate the average federal tax rate applied to different salaries. This time I am graphing the average tax rates for a married couple with to kids and one salary. With 2 kids there are 2 more exemptions which increases the income tax cut offs for all tax brackets compared to the married with no children graphic.
If you take a look at your W-2 form you can see that there are 3 different taxes applied to salaries and wages:
The income tax graph is created from the 2009 tax schedule for a couple filing jointly or qualifying widow(er):
which you can find from the IRS Tax Tables here while the information about the social security and medicare tax can be found here.
The fifth in series of infographics I am designing to illustrate the average federal tax rate applied to different salaries. This time I am graphing the average tax rates for a Head of Household with one child.
The difference between this graph and the couple with one income is the smaller standard deduction and lower cut offs for 10%, 15%, 25%, and 28% rates both of which raises their average income tax rate.
The income tax graph is created from the 2009 tax schedule for a Head of Household:
which you can find from the IRS Tax Tables here while the information about the social security and medicare tax can be found here.
The fourth in series of infographics I am designing to illustrate the average federal tax rate applied to different salaries. This time I am graphing the average tax rates for someone while married is filing a separate tax return from their spouse.
The difference between this graph and that of a single taxpayer is that the cut offs for 28%, 33% and 35% rates are lower which will increases the average tax rates for people with an income over $78,000.
The income tax graph is created from the 2009 tax schedule for someone married filing separately from their spouse:
which you can find from the IRS Tax Tables here while the information about the social security and medicare tax can be found here.
The third in series of infographics I am designing to illustrate the average federal tax rate applied to different salaries. This time I am graphing the average tax rates for married couples filing a joint tax return but with 2 incomes (same salary for each).
The difference between this graph and the couple with one income is that the the Social Security Tax cut off is now $213,600 (instead of $106,800), which increases their average SSN tax rate and their combined tax rates.
The income tax graph is created from the 2009 tax schedule for a couple filing jointly or qualifying widow(er):
which you can find from the IRS Tax Tables here while the information about the social security and medicare tax can be found here.
The second in series of infographics I am designing to illustrate the average federal tax rate applied to different salaries. This time I am graphing the average tax rates for a married couple filing a joint tax return. I am assuming one income so the main change from the tax rate for singles is the amount of the standard deduction, 2 exemptions and the change to the income tax schedule. (Again, this graphic does not include any payroll taxes paid by the employer.)
If you take a look at your W-2 form you can see that there are 3 different taxes applied to salaries and wages:
The income tax graph is created from the 2009 tax schedule for a couple filing jointly or qualifying widow(er):
which you can find from the IRS Tax Tables here while the information about the social security and medicare tax can be found here.