- 2009 Tax rates:
- Below are the resulting tax rates and income ranges for 2009:
| 10% |
$0 - 16,700 |
$0 - 8,350 |
$0 - $11,950 |
$0 - 8,350 |
| 15% |
$16,701- 67,900 |
$8,351- 33,950 |
$11,951- 45,500 |
$8,351- 33,950 |
| 25% |
$67,901- 137,050 |
$33,951- 82,250 |
$45,501- 117,450 |
$33,951- 68,525 |
| 28% |
$137,051- 208,850 |
$82,251- 171,550 |
$117,451- 190,200 |
$68,526- 104,425 |
| 33% |
$208,851- 372,950 |
$171,551- 372,950 |
$190,200- 372,950 |
$104,425- 186,475 |
| 35% |
over $372,950 |
over $372,950 |
over $372,950 |
over $186,475 |
Source:
http://www.irs.gov/pub/irs-drop/rp-08-66.pdf
- Wages, salaries, tips, etc.
- This is your total income for the year. To keep things simple
this calculator assumes this is your net income, after deductions
for retirement contributions such as 401(k)s, IRAs, etc.
- Filing status
- Choose your filing status. Your filing status determines the
income levels for your Federal tax bracket. It is also important
for calculating your standard deduction, personal exemptions, and
deduction phase out incomes. The table below summarizes the five
possible filing status choices. It is important to understand that
your marital status as of the last day of the year determines your
filing status.
| Filing Status for 2009 |
| Married filing jointly |
If you are married, you are able to file a joint return with
your spouse. If your spouse died during the tax year, you are still
able to file a joint return for that year. You may also choose to
file separately under the status "Married filing separately". |
| Qualified Widow(er) |
Generally, you qualify for this status if your spouse died
during the previous tax year (not the current tax year) and you and
your spouse filed a joint tax return in the year immediately prior
to their death. You are also required to have at least one
dependent child or step child whom which you are the primary
provider. |
| Single |
If you are divorced, legally separated or
unmarried as of the last day of the year you should use this
status. |
| Head of household |
This is the status for unmarried individuals that pay for more
than half of the cost to keep up a home. This home needs to be the
main home for the income tax filer and at least one qualifying
relative. You can also choose this status if you are married, but
didn't live with your spouse at anytime during the last six months
of the year. You also need to provide more than half of the cost to
keep up your home and have at least one dependent child living with
you. |
| Married filing separately |
If you are married, you have the choice to file separate
returns. The filing status for this option is "married filing
separately". |
For 2009, the standard deductions are $11,400 for married
couples filing jointly (and qualified widow(er)), $5,700 for
married couples filing separately and singles, and $8,350 for heads
of household.
- Are you someone's dependent?
- Choose 'no' if no one can claim you or your spouse as a
dependent. Choose 'yes' if someone can claim you as a dependent.
Choose 'both you and your spouse if you both are dependents. (You
are a dependent if someone supports you and can claim a dependency
exemption for you.)
- Number of additional dependents
- A dependent is someone you support and for whom you can claim a
dependency exemption. In 2009, each dependent you claim entitles
you to receive a $3,650 reduction in your taxable income (see
exemptions below). In 2009, each dependent under the age of 17 also
receives a tax credit of $1000. The credit is, however, phased out
at higher incomes.
- Itemized deductions
- This is the total of your itemized deductions that you can
include on schedule A of your Federal income taxes. For most people
this includes state income taxes paid for the year, interest on a
mortgage and any charitable contributions. Other itemized
deductions include certain investment expenses, medical expenses
exceeding 7.5% of your adjusted gross income, and some moving
expenses.
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