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hey there math students today were gonna learn how to read federal tax tables like this one here and were gonna learn some other cool stuff as well I want to show you where this tax table came from its part of a larger document and it looks like this right here so in your finance class youll be looking at a table like this and I just took this part of the table out right here and if you notice theres a whole bunch of headings here and I only include the headings for someone who is single and for someone whos married filing jointly theres two others that Im not including but the process for calculating taxes for any one of these four headings is the same so lets go back to the actual problem here and well get started lets say our gross income for the year that just means the total amount of money that you earned for the year was fifty four thousand two hundred dollars so youre responsible for paying federal tax on this and thats what were focused on today our federal taxes