2010 Tax Rates

2010 Tax Rates Schedule X - Single
If taxable income is over --
But Not Over --
The Tax is:
$0$8,37510% of the taxable amount
$8,375$34,000$837.50 plus 15% of the amount over $8,375
$34,000$82,400 $4,681.25 plus 25% of the amount over $34,000
$82,400$171,850$16,781.25 plus 28% of the amount over $82,400
$171,850$373,650$41,827.25 plus 33% of the amount over $171,850
$373,650 no limit $108,421.25 plus 35% of the amount over $373,650

2010 Tax Rates Schedule Y-1 - Married Filing Jointly or Qualifying Widow(er)
If taxable income is over --
But Not Over --
The Tax is:
$0$16,75010% of the taxable amount
$16,750$68,000$1,675 plus 15% of the amount over $16,750
$68,000$137,300$9,362.50 plus 25% of the amount over $68,000
$137,300$209,250$26,687.50 plus 28% of the amount over $137,300
$209,250$373,650 $46,833.50 plus 33% of the amount over $209,250
$373,650 no limit $101,085.50 plus 35% of the amount over $373,650

2010 Tax Rates Schedule Y-2 - Married Filing Separately
If taxable income is over --
But Not Over --
The Tax is:
$0$8,37510% of the taxable amount
$8,375$34,000$835 plus 15% of the amount over $8,375
$34,000$68,650$4,675 plus 25% of the amount over $34,000
$68,650$104,625$13,343.75 plus 28% of the amount over $68,650
$104,625$186,825$23,416.75 plus 33% of the amount over $104,625
$186,825no limit$50,542.75 plus 35% of the amount over $186,825

2010 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 $45,550 $1,195.00 plus 15% of the amount over $11,950
$45,550 $117,650 $6,235 plus 25% of the amount over $45,550
$117,650 $190,550 $24,260 plus 28% of the amount over $117,650
$190,550 $373,650 $44,672 plus 33% of the amount over $190,550
$373,650 no limit $105,095 plus 35% of the amount over $373,650

2010 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 $11,200 33%
$11,200 no limit 35%

Social Security 2010 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 2010 Tax Rates
Hope Credit$2,500
Lifetime Learning Credit$2,000
Student Loan Interest Deduction$2,500
Coverdell Education Savings Contribution$2,000

Miscellaneous 2010 Tax Rates
Personal Exemption$3,650
Business Equipment Expense Deduction$250,000
Prior-year safe harbor for estimated taxes of higher-income110% of your 2009 tax liability
Standard mileage rate for business driving50 cents
Standard mileage rate for medical/moving driving16.5 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 exemptionUnlimited for 2010
Annual Exclusion for Gifts$13,000