Summary
If you make $104,215 a year living in the region of Iowa, USA, you will be taxed $29,000. That means that your net pay will be $75,215 per year, or $6,268 per month. Your average tax rate is 27.8% and your marginal tax rate is 37.8%. 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 $37.76, hence, your net pay will only increase by $62.24.
Bonus Example
A $1,000 bonus will generate an extra $622 of net incomes. A $5,000 bonus will generate an extra $3,112 of net incomes.