2009 Tax Tables

With 2009 more than half over, here's some information to get ready for 2009 tax returns. Since the IRS publishes the tax rates in the previous fall, the 2009 tax brackets, as well as amounts for standard deductions, personal exemptions and credits, are already available. The following tables can help you develop tax strategies and estimate your tax bill for 2009.

If interested in additional details, you can get more information from the IRS website.

2009 tax rates and brackets

These tables can help you estimate your tax bill
For single taxpayers
If taxable income is over --	But not over--	The tax is:
$0	$8,350	10% of the amount over $0
$8,350	$33,950	$835 plus 15% of the amount over $8,350
$33,950	$82,250	$4,675 plus 25% of the amount over $33,950
$82,250	$171,550	$16,750 plus 28% of the amount over $82,250
$171,550	$372,950	$41,754 plus 33% of the amount over $171,550
$372,950	no limit	$108,216 plus 35% of the amount over $372,950
For married couples filing jointly*
If taxable income is over--	But not over--	The tax is:
$0	$16,700	10% of the amount over $0
$16,700	$67,900	$1670 plus 15% of the amount over $16,700
$67,900	$137,050	$9350 plus 25% of the amount over $67,900
$137,050	$208,850	$26,638 plus 28% of the amount over $137,050
$208,850	$372,950	$46,742 plus 33% of the amount over $208,850
$372,950	no limit	$100,895 plus 35% of the amount over $372,950
* Or qualifying widow(er )
For married couples filing separately
If taxable income is over--	But not over--	The tax is:
$0	$8,350	10% of the amount over $0
$8,350	$33,950	$835 plus 15% of the amount over $8,350
$33,950	$68,525	$4,675 plus 25% of the amount over $33,950
$68,525	$104,425	$13,319 plus 28% of the amount over $68,525
$104,125	$186,475	$23,371 plus 33% of the amount over $104,125
$186,475	no limit	$50,447 plus 35% of the amount over $186,475
For heads of households
If taxable income is over	But not over	The tax is:
$0	$11,950	10% of the amount over $0
$11,950	$45,500	$1,195 plus 15% of the amount over $11,950
$45,500	$117,450	$6,228 plus 25% of the amount over $45,500
$117,450	$190,200	$24,215 plus 28% of the amount over $117,450
$190,200	$372,950	$44,585 plus 33% of the amount over $190,200
$372,950	no limit	$104,893 plus 35% of the amount over $372,950

The best time to plan and prepare for taxes is before the tax year is completed, especially if one has self employment or retirement income. The tax tables are among the elements that can help one get started.

For more on Ideas You Can Use, check back every Tuesday for a new segment.

This is not financial or tax advice. Please consult a professional advisor.

Copyright © 2009 Achievement Catalyst, LLC