Summary
If you make $20,717 a year living in the region of Iowa, USA, you will be taxed $2,938. That means that your net pay will be $17,779 per year, or $1,482 per month. Your average tax rate is 14.2% and your marginal tax rate is 23.4%. 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 $23.39, hence, your net pay will only increase by $76.61.
Bonus Example
A $1,000 bonus will generate an extra $766 of net incomes. A $5,000 bonus will generate an extra $3,831 of net incomes.