Let’s assume that your taxable income (after USD 24,400 standard deduction and consider no credits for simplicity) is USD 84,000 and you are filing as married filing jointly. Your marginal tax rate is 22%. Now we will calculate your effective tax rate and the tax due. We will use the 10% tax rate on your income up to USD 19,400, the 12% tax rate on taxable income between USD 19,400 and USD 78,950, and 22% on the part of your taxable income over USD 78,950.
Here are our calculations;
USD 84,000 – USD 78,950 = USD 5,050
USD 5,050 x 22% = USD 1,111
USD 9,086 + USD 1,111 = USD 10,197 → total tax due
USD 10,197 / (USD 84,000 + USD 24,400)= 9,41% → effective tax rate