How Much Income Tax Will I Pay if I Make $50,000?

Tax season is just around the corner, and as 2017 draws to a close, it's important to start thinking about your taxes. To figure out whether you should expect a sizable refund or will owe money to the IRS, the first step is getting a handle on how much income tax you'll likely have to pay.

Too many factors to count play into the precise amount of tax you'll pay, but you can still get a good idea from looking at some of the most typical situations that Americans face at tax time. To help you do that, here are two typical situations involving households that each make roughly the median income of $50,000.

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Source: Fool.com