Tax Brackets 2009

Overview

Each year, the IRS releases a schedule of tax rates for people of different income levels. These rates and tax brackets vary based on a taxpayer's filing status. In general, for most filers, the tax rates increase as income increases. The following are income tax rates that will help you calculate how much you owe each year based on how much you made in 2009.

Single

$0	$8,350	10% of the amount over $0
$8,351	$33,950	$835.00 plus 15% of the amount over $8,350
$33,951	$82,250	$4,675.00 plus 25% of the amount over $33,950
$82,251	$171,550	$16,7500.00 plus 28% of the amount over $82,250
$171,551	$372,950	$41,754.00 plus 33% of the amount over $171,550
$372,951	no limit	$108,216.00 plus 35% of the amount over $372,950

Example

Say that you are single, and you made $75,000. When you file, you will owe $4,675 plus 25 percent of the difference between $75,000 and $33,950, which is $41,050. Your tax liability for 2009 will be $10,262.50.

Married Filing Jointly/Qualifying Widow(er)

People who are legally married as of December 31 of that tax year are eligible to file a joint tax return. If you were married on December 31, 2009, then you can file a joint tax return for 2009. If you were divorced on December 30, then you must file single. Generally, married couples who file jointly enjoy greater tax benefits than people who file single or separately.

If you are married, you absolutely cannot file as single, even if you are in the process of getting a divorce. For tax purposes, marriage is a legal status rather than a religious or ceremonial bond. A person whose spouse dies is eligible to file jointly since the tax status at the time of death determines the tax status for the entire tax year.

$0	$16,700	10% of the amount over $0
$16,701	$67,900	$1,670 plus 15% of the amount over $16,700
$67,901	$137,050	$9,350.00 plus 25% of the amount over $67,900
$137,051	$208,850	$26,637.50 plus 28% of the amount over $137,050
$208,851	$372,950	$46,741.50 plus 33% of the amount over $208,850
$372,951	no limit	$100,894.50 plus 35% of the amount over $372,950

Example

Say that you are filing with your spouse and together, you made $137,051. As a couple, you would owe a total of $26,637.50.

Married Filing Separately

$0	$8,350	10% of the amount over $0
$8,351	$33,950	$835.00 plus 15% of the amount over $8,350
$33,951	$68,525	$4,675.00 plus 25% of the amount over $33,950
$68,526	$104,425	$13,318.75 plus 28% of the amount over $68,525
$104,426	$186,475	$23,370.75 plus 33% of the amount over $104,425
$186,476	no limit	$50,447.25 plus 35% of the amount over 186,475

Example

Say that you are married, and you decide to file separately. If you made $33,951 in 2009, you would pay $4,675. If your spouse made the same amount, he or she would also pay $4,675. When one spouse files married filing separately, the other must file as married filing separately as well.

Head of Household

$0	$11,950	10% of the amount over $0
$11,951	$45,500	$1,195.00 plus 15% of the amount over $11,950
$45,501	$117,450	$6,227.59 plus 25% of the amount over $45,500
$117,451	$190,200	$24,215.00 plus 28% of the amount over $117,450
$190,201	$372,950	$44,585.00 plus 33% of the amount over $190,200
$372,951	no limit	$104,892.50 plus 35% of the amount over $372,950

Example

Say that you file as a head of household, and you made $45,501. You would owe $6,227.59 in taxes.