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2010 Federal Income Tax Brackets

 

Tax Rate Tables. For taxable years beginning in 2010, the tax rate tables under IRC section 1 are as follows:1

 

Married Individuals Filing Joint Returns & Surviving Spouses

 

Taxable Income

2010 Tax

Not over $16,750

10% of the taxable income

Over $16,750 but not over $68,000

$1,675 plus 15% of the excess over $16,750

Over $68,000 but not over $137,300

$9,362.50 plus 25% of the excess over $68,000

Over $137,300 but not over $209,250

$26,687.50 plus 28% of the excess over $137,300

Over $209,250 but not over $373,650

$46,833.50 plus 33% of the excess over $209,250

Over $373,650

$101,085.50 plus 35% of the excess over $373,650

 

 

Heads of Households

 

Taxable Income

2010 Tax

Not over $11,950

10% of the taxable income

Over $11,950 but not over $45,550

$1,195 plus 15% of the excess over $11,950

Over $45,550 but not over $117,650

$6,235 plus 25% of the excess over $45,550

Over $117,650 but not over $190,550

$24,260 plus 28% of the excess over $117,650

Over $190,550 but not over $373,650

$44,672 plus 33% of the excess over $190,550

Over $373,650

$105,095 plus 35% of the excess over $373,650

 

 

Unmarried Individuals (other than surviving spouses and heads of households)

 

Taxable Income

2010 Tax

Not over $8,375

10% of the taxable income

Over $8,375 but not over $34,000

$837.50 plus 15% of the excess over $8,375

Over $34,000 but not over $82,400

$4,681.25 plus 25% of the excess over $34,000

Over $82,400 but not over $171,850

$16,781.25 plus 28% of the excess over $82,400

Over $171,850 but not over $373,650

$41,827.25 plus 33% of the excess over $171,850

Over $373,650

$108,421.25 plus 35% of the excess over $373,650

 

 

Married Individuals Filing Separate Returns

 

Taxable Income

2010 Tax

Not over $8,375

10% of the taxable income

Over $8,375 but not over $34,000

$837.50 plus 15% of the excess over $8,375

Over $34,000 but not over $68,650

$4,681.25 plus 25% of the excess over $34,000

Over $68,650 but not over $104,625

$13,343.75 plus 28% of the excess over $68,650

Over $104,625 but not over $186,825

$23,416.75 plus 33% of the excess over $104,625

Over $186,825

$50,542.75 plus 35% of the excess over $186,825

 

 

Estates & Trusts

 

Taxable Income

2010 Tax

Not over $2,300

15% of the taxable income

Over $2,300 but not over $5,350

$345 plus 25% of the excess over $2,300

Over $5,350 but not over $8,200

$1,107.50 plus 28% of the excess over $5,350

Over $8,200 but not over $11,200

$1,905.50 plus 33% of the excess over $8,200

Over $11,200

$2,895.50 plus 35% of the excess over $11,200

 

Planning Tip

 

When looking at your federal income tax bracket, pay attention first to your last bracket. Why? That’s where you start to pocket cash when you find a new or additional tax deduction.

 

Example. You are married. You and your spouse have taxable income of $120,000. That puts you in the 25 percent federal income tax bracket. If you can find $10,000 in new deductions, you pocket $2,500.

 

To find more practical tax strategies, we suggest that you read the monthly articles published online at the Bradford Tax Institute. We provide cutting-edge tax information for the self-employed, the one owner business, and the husband and wife owned business.

 

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1    Rev. Proc. 2009-50