[quote name='Cmosfm']I'm slightly confused, are you saying that if you don't earn much money throughout the year you will have to pay 35% on the 600.00? Or is it the opposite?
I think what you are trying to say is that the higher you make, the more taxes you have to pay, so if you make a LOT of money in a year you will have to pay a higher percentage?[/quote]
Basically the $600 is added to your taxes as income, so you will owe X% of the $600 in income taxes based on your tax bracket. 35% is the max tax bracket if you are single and making over $349,700 a year. The other brackets for filing single vary as follows:
Under $7,825 - 10%
Under $31,850 - 15%
Under $77,100 - 25%
Under $160,850 - 28%
Under $349,700 - 33%
Over $349,700 - $35%