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| Federal Income Tax Brackets For 2010 – Based On Taxable Income Ranges
Tax Rate
| Married Couples Filing Jointly
| Most Single Filers
| | 10% | Not over $16,750 | Not over $8,375 | | 15% | $16,750 – $68,000 | $8,375 – $34,000 | | 25% | $68,000 – $137,300 | $34,000 – $82,400 | | 28% | $137,300 – $209,250 | $82,400 – $171,850 | | 33% | $209,250 – $373,650 | $171,850 – $373,650 | | 35% | Over $373,650 | Over $373,650 |
| Social Security | 2009 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% |
| 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 |
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