Tax Rates
2010 Tax Rates
Schedule X - Single
If taxable income is over -- But Not Over -- The Tax is:
$0 $8,375 10% of the taxable amount $8,375 $34,000 $837.50 plus 15% of the amount over $8,375 $34,000 $82,400
$4,681.25 plus 25% of the amount over $34,000
$82,400 $171,850 $16,781.25 plus 28% of the amount over $82,400 $171,850 $373,650 $41,827.25 plus 33% of the amount over $171,850 $373,650
no limit
$108,421.25 plus 35% of the amount over $373,650
2010 Tax Rates
Schedule Y-1 - Married Filing Jointly or Qualifying Widow(er)
If taxable income is over -- But Not Over -- The Tax is:
$0 $16,750 10% of the taxable amount $16,750 $68,000 $1,675 plus 15% of the amount over $16,750 $68,000 $137,300 $9,362.50 plus 25% of the amount over $68,000 $137,300 $209,250 $26,687.50 plus 28% of the amount over $137,300 $209,250 $373,650
$46,833.50 plus 33% of the amount over $209,250
$373,650
no limit
$101,085.50 plus 35% of the amount over $373,650
2010 Tax Rates Schedule Y-2 - Married Filing Separately
If taxable income is over -- But Not Over -- The Tax is:
$0 $8,375 10% of the taxable amount $8,375 $34,000 $835 plus 15% of the amount over $8,375 $34,000 $68,650 $4,675 plus 25% of the amount over $34,000 $68,650 $104,625 $13,343.75 plus 28% of the amount over $68,650 $104,625 $186,825 $23,416.75 plus 33% of the amount over $104,625 $186,825 no limit $50,542.75 plus 35% of the amount over $186,825
2010 Tax Rates
Schedule Z - Head of Household
If taxable income is over -- But Not Over -- The Tax is:
$0
$11,950
10% of the taxable amount $11,950
$45,550
$1,195.00 plus 15% of the amount over $11,950
$45,550
$117,650
$6,235 plus 25% of the amount over $45,550
$117,650
$190,550
$24,260 plus 28% of the amount over $117,650
$190,550
$373,650
$44,672 plus 33% of the amount over $190,550
$373,650
no limit
$105,095 plus 35% of the amount over $373,650
2010 Tax Rates
Estates & Trusts
If taxable income is over -- But Not Over -- The Tax is:
$0
$2,300
15% $2,300
$5,350
25%
$5,350
$8,200
28%
$8,200
$11,200
33%
$11,200
no limit
35%
Social Security 2010 Tax Rates Base Salary $106,800 Social Security Tax Rate 6.2% Maximum Social Security Tax $6,621.60 Medicare Base Salary Unlimited Medicare Tax Rate 1.45%
Education 2010 Tax Rates Hope Credit $2,500 Lifetime Learning Credit $2,000 Student Loan Interest Deduction $2,500 Coverdell Education Savings Contribution $2,000
Miscellaneous 2010 Tax Rates Personal Exemption $3,650 Business Equipment Expense Deduction $250,000 Prior-year safe harbor for estimated taxes of higher-income 110% of your 2009 tax liability Standard mileage rate for business driving 50 cents Standard mileage rate for medical/moving driving 16.5 cents Standard mileage rate for charitable driving 14 cents Child Tax Credit $1,000 Unearned income maximum for children before kiddie tax applies $950 Maximum capital gains tax rate for taxpayers in the 10% or 15% bracket 0% Maximum capital gains tax rate for taxpayers above the 15% bracket 15% Capital gains tax rate for unrecaptured Sec. 1250 gains 25% Capital gains tax rate on collectibles 28% Maximum contribution for Traditional/Roth IRA $5,000 if under age 50 Maximum employee contribution to SIMPLE IRA $11,500 if under age 50 Maximum Contribution to SEP IRA 25% of compensation up to $49,000 401(k) maximum employee contribution limit $16,500 if under age 50 Self-employed health insurance deduction 100% Estate tax exemption Unlimited for 2010 Annual Exclusion for Gifts $13,000
The general information in this website is not intended to be nor should it be treated as tax, legal, or accounting advice. Additional issues could exist that would affect the tax treatment of a specific transaction and, therefore, taxpayers should seek advice from an independent tax advisor based on their particular circumstances before acting on any information presented. This information is not intended to be nor can it be used by any taxpayer for the purpose of a) avoiding penalties that may be imposed under the Internal Revenue Code or applicable state or local tax law provisions, or b) promoting, marketing, or recommending to another party any transaction or matter addressed herein.
