Summary
If you make $56,400 a year living in the region of Iowa, USA, you will be taxed $11,940. That means that your net pay will be $44,460 per year, or $3,705 per month. Your average tax rate is 21.2% and your marginal tax rate is 34.5%. 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 $34.53, hence, your net pay will only increase by $65.47.
Bonus Example
A $1,000 bonus will generate an extra $655 of net incomes. A $5,000 bonus will generate an extra $3,274 of net incomes.