Your first $11,000 of taxable income is taxed at the 10% tier, and then the next $35,549 (or $47,150 - $11,601) falls into the 12% bracket. While your marginal tax rate is the rate you pay on your ...

Depending on your income level, that means your take-home pay might increase this year or your tax bill could decrease next year. Even if your salary didn't change, you might have dropped into a ...