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To calculate the taxes on an income of $97,000, you need to consider the tax bracket you fall into, which varies by filing status (single, married, etc.) and location. For a single filer in the U.S. for the 2023 tax year, the federal income tax rates range from 10% to 24% on income over certain thresholds. After applying standard deductions and calculating the applicable tax brackets, the total federal tax could be roughly between $15,000 to $20,000, depending on deductions and credits. State taxes will also affect the total amount paid.

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2mo ago

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