Summary
If you make <b>$118,000</b> a year living in the region of <b>Tennessee</b>, <b>USA</b>, you will be taxed <b> $28,075</b>. That means that your net pay will be <b>$89,926</b> per year, or <b>$7,494</b> per month. Your average tax rate is <b>23.8%</b> and your marginal tax rate is <b>31.7%</b>. This marginal tax rate means that your immediate additional income will be taxed at this rate. For instance, an increase of <b>$100</b> in your salary will be taxed <b>$31.65</b>, hence, your net pay will only increase by <b>$68.35</b>.
Bonus Example
A <b>$1,000</b> bonus will generate an extra <b>$684</b> of net incomes. A <b>$5,000</b> bonus will generate an extra <b>$3,418</b> of net incomes.