Total tax paid
$35,251
Did you know your employer also pays tax on your salary? It costs the employer $4,834 to pay you $88,296. In other words, every time you spend $10 of your hard-earned money, $3.99 goes to the government.
Real tax rate
37.9%
So, with you and the employer both paying tax, what used to be a 34.4% tax rate now rises to 37.9%, meaning your real tax rate is actually 3.5% higher than what it seemed at first.