What is the marginal tax bracket percentage for a married couple filing jointly with a combined income of $180,000?

To determine the marginal tax bracket for a married couple filing jointly with a combined income of $180,000, it is important to understand how the U.S. federal income tax brackets work. As of the most current tax laws in 2023, the marginal tax rate is not only about the individual's total income, but also how that income falls within specific tax brackets.

For a married couple filing jointly, the income tax brackets for 2023 include:

• 10% on the first $22,000

• 12% on income over $22,000 up to $89,450

• 22% on income over $89,450 up to $190,750

• 24% on income over $190,750 up to $364,200

• And so on for higher brackets.

With a combined income of $180,000, the couple would land primarily in the 22% tax bracket, as it encompasses their total income up to $190,750. However, for the remaining portion of their income above $89,450, the next applicable bracket is 24%, but it won’t apply to the entire amount because their income is still below the next threshold of $190,750.

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