2008 Tax Brackets
Want to know how much you’ll be paying in taxes this year? Here are the 2008 tax rates.
Tax rates are marginal, so you’ll pay taxes at each rate until you reach your taxable income level.
For example, a single filer who has $25,000 of taxable income will pay 10% on the first $8,025 ($802.50) and 15% on the remaining $16,975 ($2,546). The total tax will be $3349, or an average tax rate of 13.4%.
2008 Tax Rates
| Tax Rate | Single | Married Filing Joint | Married Filing Separate | Head of Household |
|---|---|---|---|---|
| 10% | Up to $8,025 | Up to $16,050 | Up to $8,025 | Up to $11,450 |
| 15% | $8,026 – $32,550 | $16,051 – $65,100 | $8,026 – $32,550 | $11,451 – $43,650 |
| 25% | $32,551 – $78,850 | $65,101 – $131,450 | $32,551 – $65,725 | $43,651 – $112,650 |
| 28% | $78,851 – $164,550 | $131,451 – $200,300 | $65,726 – $100,150 | $112,651 – $182,400 |
| 33% | $164,551 – $357,700 | $200,301 – $357,700 | $100,151 – $178,850 | $182,401 – $357,700 |
| 35% | Over $357,700 | Over $357,700 | Over $178,850 | Over $357,700 |
