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Tax Rates

CB023953 Tax rates change every year. Here is a look at this year’s tax rates.

2009 Tax Rates – Single Taxpayers – Standard Deduction $5,700
10% 0 to $8,350
15% $8,350 to $33,950
25% $33,950 to $82,250
28% $82,250 to $171,550
33% $171,550 to $372,950
35% Over $372,950
2009 Tax Rates – Married Jointly & Surviving Spouses – Standard Deduction $11,400
10% 0 to $16,700
15% $16,700 to $67,900
25% $67,900 to $137,050
28% $137,050 to $208,850
33% $208,850 to $372,950
35% Over $372,950
2009 Tax Rates – Married Filing Separately – Standard Deduction $5,700
10% 0 to $8,350
15% $8,350 to $33,950
25% $33,950 to $68,525
28% $68,525 to $104,425
33% $104,425 to $186,475
35% Over $186,475
2009 Tax Rates – Head of Household – Standard Deduction $8,350
10% 1 to $11,950
15% $11,950 to $45,500
25% $45,500 to $117,450
28% $117,450 to $190,200
33% $190,200 to $372,950
35% Over $372,950
2009 Tax Rates – Estates & Trusts
15% 0 to $2,300
25% $2,300 to $5,350
28% $5,350 to $8,200
33% $8,200 to $11,150
35% Over $11,150
   
Social Security  2009 Tax Rates
Base Salary $106,800
Social Security Tax Rate 6.20%
Maximum Social Security Tax $6,621.60
Medicare Base Salary Unlimited
Medicare Tax Rate 1.45%
 
Miscellaneous  2009 Tax Rates
Personal Exemption $3,650
Business equipment expensing deduction $250,000
Prior-year safe harbor for estimated taxes of higher-income 110% of your 2008 tax liability
Standard mileage rate for business driving 55 cents
Standard mileage rate for medical/moving driving 24 cents
Standard mileage rate for charitable driving 14 cents
Child Tax Credit $1,000
Unearned income maximum for children under 19 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 eligible 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 $3,500,000
Annual Exclusion for Gifts $13,000
 
Education  2009 Tax Rates
Hope Credit $1,800
Lifetime Learning Credit $2,000
Student Loan Interest Deduction $2,500
Coverdell Education Savings Contribution $2,000

 

Stewart Pine, CPA
4441 E. Willow Ave
Phoenix, AZ 85032

Phone: 602-953-3696
Fax: 602-996-5205
stewart@pinecpa.com