2009 Tax Rates

2009 Tax Rates Schedule X - Single
If taxable income is over --
But Not Over --
The Tax is:
$0$8,35010% of the taxable amount
$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

2009 Tax Rates Schedule Y-1 - Married Filing Jointly or Qualifying Widow(er)
If taxable income is over --
But Not Over --
The Tax is:
$0$16,70010% of the taxable amount
$16,700$67,900$1,670 plus 15% of the amount over $16,700
$67,900$137,050$9,350 plus 25% of the amount over $67,900
$137,050$208,850$26,637.50 plus 28% of the amount over $137,050
$208,850$372,950 $46,741.50 plus 33% of the amount over $208,850
$372,950 no limit $100,894.50 plus 35% of the amount over $372,950

2009 Tax Rates Schedule Y-2 - Married Filing Separately
If taxable income is over --
But Not Over --
The Tax is:
$0$8,35010% of the taxable amount
$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$13,318.75 plus 28% of the amount over $68,525
$104,425$186,475$23,370.75 plus 33% of the amount over $104,425
$186,475no limit$50,447.25 plus 35% of the amount over $186,475

2009 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 $45,500 $1,195.00 plus 15% of the amount over $11,950
$45,500 $117,450 $6,227.50 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 $104,892 plus 35% of the amount over $372,950

2009 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 $11,150 33%
$11,150 no limit 35%

Social Security 2009 Tax Rates
Base Salary$106,800
Social Security Tax Rate6.2%
Maximum Social Security Tax$6,621.60
Medicare Base SalaryUnlimited
Medicare Tax Rate1.45%

Education 2009 Tax Rates
Hope Credit$2,500
Lifetime Learning Credit$2,000
Student Loan Interest Deduction$2,500
Coverdell Education Savings Contribution$2,000

Miscellaneous 2009 Tax Rates
Personal Exemption$3,650
Business Equipment Expense Deduction$250,000
Prior-year safe harbor for estimated taxes of higher-income110% of your 2008 tax liability
Standard mileage rate for business driving55 cents
Standard mileage rate for medical/moving driving24 cents
Standard mileage rate for charitable driving14 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% bracket0%
Maximum capital gains tax rate for taxpayers above the 15% bracket15%
Capital gains tax rate for unrecaptured Sec. 1250 gains25%
Capital gains tax rate on collectibles28%
Maximum contribution for Traditional/Roth IRA$5,000 if under age 50
$6,000 if 50 or older
Maximum employee contribution to SIMPLE IRA$11,500 if under age 50
$14,000 if 50 or older
Maximum Contribution to SEP IRA25% of compensation up to $49,000
401(k) maximum employee contribution limit$16,500 if under age 50
$22,000 if 50 or older
Self-employed health insurance deduction100%
Estate tax exemption$3,500,000
Annual Exclusion for Gifts$13,000