Summary
If you make $7,538 a year living in the region of Iowa, USA, you will be taxed $636. That means that your net pay will be $6,902 per year, or $575 per month. Your average tax rate is 8.4% and your marginal tax rate is 9.9%. 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 $9.90, hence, your net pay will only increase by $90.10.
Bonus Example
A $1,000 bonus will generate an extra $901 of net incomes. A $5,000 bonus will generate an extra $4,505 of net incomes.