Your tax bracket shows you the tax rate that you will pay for each portion of your income. For example,if you are a single person,the lowest possible tax rate of 10 percent is applied to the first $9,525 of your income in 2021.The next portion of your income is taxed at the next tax bracket of 12 percent.That continues for each tax bracket up to the top of your taxable income. Find your tax bracket for 2021.