Summary
If you make $59,970 a year living in the region of Iowa, USA, you will be taxed $13,173. That means that your net pay will be $46,797 per year, or $3,900 per month. Your average tax rate is 22.0% and your marginal tax rate is 35.1%. 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 $35.10, hence, your net pay will only increase by $64.90.
Bonus Example
A $1,000 bonus will generate an extra $649 of net incomes. A $5,000 bonus will generate an extra $3,245 of net incomes.