Exam ple: Ma erage Rates Suppose you are single and your personal taxable income is 100,000 What is your tax bill? What is the average tax rate? What is the marginal rate?

To calculate your tax bill, you need to know the tax brackets and rates for the specific year and location you are referring to. For simplicity, let's assume we are in the United States for the tax year 2023. The federal income tax brackets for a single filer are as follows:- 10% on income up to 11,001 to 44,726 to 95,376 to 11,000:** 1,100 \]2. **12% on income from 44,725:** 11,000) = 12\% \times \ 4,047 \]3. **22% on income from 95,375:** 44,725) = 22\% \times \ 11,143 \]4. **24% on income from 100,000:** 95,376) = 24\% \times \ 1,111.76 \]Now, sum up all the amounts: 4,047 + \ 1,111.76 = \ 5,624 of your income is taxed at 24%, your marginal tax rate is: ### Summary- **Tax Bill:** \$17,401.76- **Average Tax Rate:** 17.40%- **Marginal Tax Rate:** 24%