Filing your income taxes is something that we all must do every year around this time. If you are just now taking a look over your taxes you may be interested in the income tax brackets for 2009. This year, the federal income tax brackets range from 10% all the way up to 35%. The bracket that you fall into depends on your adjusted gross income. Simply stated, as the amount that you make increases, the tax bracket that you fall into also increases. This means that those who earn the highest amount of money generally pay more in taxes.
The income tax brackets for 2009 are 10% 15% 25% 28% 33% and 35%. You will pay taxes according to the amount of money that you earn which falls into a particular bracket. For example, if a single individual earns an income of $15,350 they fall within the 15% tax bracket. At this rate, this individual will pay the first $8,350 at 10% and the other $7,000 at 15%. The actual amount of money that they pay in taxes is not 15%; it is just 15% for the portion that falls within this bracket.
Income tax brackets are an important part of the United States tax system and would be beneficial for all tax payers to know and understand. Here are the income tax brackets for a single tax filer:
10% – $0 – $8,350
15% – $8,351 to $33,950
25% – $33,951 to 82,250
28% – $82,250 to $171,500
33% – $171,551 to $372,950
35% – over $372,950
If you are filing jointly or head of household, then you should check out the official IRS website for the complete 2009 income tax brackets. Here you will find this information and just about anything that you would ever want to know about taxes.
Author: Allen Dukes