Summary
If you make $70,692 a year living in the region of Iowa, USA, you will be taxed $16,968. That means that your net pay will be $53,724 per year, or $4,477 per month. Your average tax rate is 24.0% and your marginal tax rate is 35.5%. This marginal tax rate means that your immediate additional income will be taxed at this rate. For instance, an increase of $100 in your salary will be taxed $35.45, hence, your net pay will only increase by $64.55.
Bonus Example
A $1,000 bonus will generate an extra $646 of net incomes. A $5,000 bonus will generate an extra $3,228 of net incomes.