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Tax Rates

2010 Tax Rates Schedule X – Single
If taxable income is over —
But Not Over —
The Tax is:
$0 $8,375 10% 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 $16,750 10% 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 $8,375 10% 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
$186,825 no 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 Rate 6.2%
Maximum Social Security Tax $6,621.60
Medicare Base Salary Unlimited
Medicare Tax Rate 1.45%

 

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-income 110% of your 2009 tax liability
Standard mileage rate for business driving 50 cents
Standard mileage rate for medical/moving driving 16.5 cents
Standard mileage rate for charitable driving 14 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% bracket 0%
Maximum capital gains tax rate for taxpayers above the 15% bracket 15%
Capital gains tax rate for unrecaptured Sec. 1250 gains 25%
Capital gains tax rate on collectibles 28%
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 IRA 25% 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 deduction 100%
Estate tax exemption Unlimited for 2010
Annual Exclusion for Gifts $13,000