Summary
If you make $79,923 a year living in the region of Iowa, USA, you will be taxed $20,241. That means that your net pay will be $59,682 per year, or $4,974 per month. Your average tax rate is 25.3% and your marginal tax rate is 35.5%. 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 $35.45, hence, your net pay will only increase by $64.55.
Bonus Example
A $1,000 bonus will generate an extra $646 of net incomes. A $5,000 bonus will generate an extra $3,228 of net incomes.