Tag Archives: IRS

Federal Taxes

This applies only to amounts above $8,950 (assuming the standard deduction of $5,450 plus one personal exemption of $3,500) for an individual. For example, a single individual without children pays:

Single Filing Status (Tax Rate Schedule X)
10% on income between $0 and $8,025
15% on the income between $8,025 and $32,550; plus $802.50
25% on the income between $32,550 and $78,850; plus $4,481.25
28% on the income between $78,850 and $164,550; plus $16,056.25
33% on the income between $164,550 and $357,700; plus $40,052.25
35% on the income over $357,700; plus $103,791.75

http://www.moneychimp.com/features/tax_brackets.htm

http://taxes.about.com/od/2008taxes/qt/2008_tax_rates.htm

http://en.wikipedia.org/wiki/Tax_bracket#Tax_brackets_in_the_USA

This table applies only to amounts above $8,950 (assuming the standard deduction of $5,450 plus one personal exemption of $3,500) for an individual. For example, a single individual without children pays:

Late: Hmmm… Looks like I started to write a post on this and never finished it. I’m guessing it got published when I changed from MovableType to WordPress. This happened with a few posts. Sorry…

Taxes – Tuesday Twosome

  1. “Eek, I owe” or “Show me the money!” Show me!! Actually it’s not very much this year…
  2. “Finished already” or “It isn’t the 15th yet, so why rush?!” Why rush?!? I suppose I should get those done soon, eh?
  3. “Taxes suck” or “I don’t mind because some of it goes to social causes” I’m not keen on them but I know they help out. I’d pay more if I knew it’d go to education!
  4. “1040EZ” or “How the heck does anybody understand all this crap?” It’s not that bad, but I wouldn’t say it’s EZ either.
  5. “Receipts? What are those?” or “I keep everything just in case *knock on wood*” I keep ’em all. They could be sorted a little better…

From Tuesday Twosome.