Originally Posted by
Melonie
a lot depends on the state you live in
Basic are a 15.3% federal social security tax, plus a 28% federal income tax. So on a $150k gross income, less say $30k worth of personal exemptions and deductions, less another say $10k in business expenses, you're looking at something like $110k times 43% or $47,000 worth of federal taxes ( at a 31% 'effective' tax rate ). Being married, having kids, owning a home etc. can significantly lower this amount.
State taxes can range anywhere from zero to 9% on top of federal taxes.
The new Obamacare tax penalty will add another 2% or $2,200 if you don't have health insurance coverage next year as well ( providing the penalty isn't postponed again )