How much of our salary can we expect to pay in taxes?
We are a married couple living in Virginia with a combined income of just under $100,000. We have no children, or property, so have minimum deductions. What percentage of our salary can we expect to pay in both federal and state taxes? Will the percentage increase if our income goes about $100,000 in the coming year?
Public Comments
- The Federal income tax on $100,000 would be $13,473. The VA state tax would be around $5,000. You'd also pay up to $7,650 in Social Security and Medicare taxes. Total tax bite: $26,123 or 26% of your gross income. The Federal rate would not increase until your combined gross income exceeded about $146,000; you're in the 25% bracket right now and the next one is 28%. You're already at the maximum VA state income tax rate.
