Your deductions as a single person have reduced your taxable income to $38,950,bringing you into the 25 percent tax bracket.As such,your taxes will amount to 25 percent of your taxable income of $38,950.

Question

Quizplus · Accepted Answer

The U.S. tax system is progressive, meaning not all of your income is taxed at the same rate. If you're in the 25% tax bracket, only the income above the threshold for that bracket is taxed at 25%, not your entire income.

Your Deductions as a Single Person Have Reduced Your Taxable