The amount of tax you pay on your income can vary from state to state. For example, an unmarried man with no children may pay a different amount of tax in Florida that he would in Washington. The amount of income tax you pay also depends on how you file for your income tax deductions. For example, a married couple who file for their income tax together, on a joint total of $50,000, may pay a different amount of tax on their joint income, than they would if they filed for two separate income tax deductions, in their individual incomes of $25,000 each. Therefore, it is difficult to give just one answer to the amount of income tax that would be paid on $42,000.
If you are a single, unmarried person, then you should expect to pay around $4090.00 income tax, plus 25% of the amount over $29,700. As you earn $12,300 more than $29,700, you should expect to pay around an additional $3075, as well as the $4090 stated earlier. Therefore, you should expect to pay a total income tax of around $7165.
However, if $42,000 is the total income of a married couple applying for joint income tax, then you would pay considerably less income tax than this. You should expect to pay around $1460 income tax, plus 15% of the amount of your income over $14,600. Therefore, as you jointly earn $27,400 more than $14,600, you should expect to pay around an additional $4110. Therefore, you should expect to pay a total, joint income tax of $5570.
If you apply to pay your income tax for the income of your entire household, then you should expect to pay around $5447.50 in income tax, plus an additional 25% of any income over $39,000. As your income of $42,000 is $3000 more than this figure, you should expect to pay an additional $750. Therefore, you should expect to pay a total of around $6197.50 in income tax.
If you are a single, unmarried person, then you should expect to pay around $4090.00 income tax, plus 25% of the amount over $29,700. As you earn $12,300 more than $29,700, you should expect to pay around an additional $3075, as well as the $4090 stated earlier. Therefore, you should expect to pay a total income tax of around $7165.
However, if $42,000 is the total income of a married couple applying for joint income tax, then you would pay considerably less income tax than this. You should expect to pay around $1460 income tax, plus 15% of the amount of your income over $14,600. Therefore, as you jointly earn $27,400 more than $14,600, you should expect to pay around an additional $4110. Therefore, you should expect to pay a total, joint income tax of $5570.
If you apply to pay your income tax for the income of your entire household, then you should expect to pay around $5447.50 in income tax, plus an additional 25% of any income over $39,000. As your income of $42,000 is $3000 more than this figure, you should expect to pay an additional $750. Therefore, you should expect to pay a total of around $6197.50 in income tax.