2009 Tax Brackets
The 2009 tax brackets are out. Don’t forget 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 $8,350 ($835) and 15% on the remaining $16,650 ($2,497.50). The total tax will be $3332.50, or an average tax rate of 13.3%.
2009 Tax Brackets
| Tax Rate | Single | Married Filing Joint | Married Filing Separate | Head of Household |
|---|---|---|---|---|
| 10% | Up to $8,350 | Up to $16,700 | Up to $8,350 | Up to $11,950 |
| 15% | $8,351 – $33,950 | $16,701 – $67,900 | $8,351 – $33,950 | $11,951 – $45,500 |
| 25% | $33,951 – $82,250 | $67,901 – $137,050 | $33,951 – $68,525 | $45,501 – $117,450 |
| 28% | $82,251 – $171,550 | $137,051 – $208,850 | $68,526 – $104,425 | $117,451 – $190,200 |
| 33% | $171,551 – $372,950 | $208,851 – $372,950 | $104,426 – $186,475 | $190,201 – $372,950 |
| 35% | Over $372,950 | Over $372,950 | Over $186,475 | Over $372,950 |
It’s important to note that the Make Working Pay Tax Credit will reduce some of the the tax due in the 10% tax bracket.
