2009 Federal Tax Tables

I know.. 2008 Tax deadline was just a few weeks ago.  In order to maximize your tax savings and better plan your taxes, we present you the projected 2009 Federal Tax Brackets and Table.  

The standard deduction for 2009 is $5,700 and personal exemption is $3,650.  Meaning if your total income is under $9,350.00 you don’t pay any federal taxes to Uncle Sam.  You are still liable for the Social Security and Medicare Tax which is 7.5% of your income.

2009 IRS Tax Table & Tax Brackets

Tax Rate Single (2009) Married Filing Jointly
10% Not over $8,350 Not over $16,7000
15% $8,350 – $33,950 $16,700 – $67,900
25% $33,950 – $82,250 $67,900 – $137,050
28% $82,250 – $171,550 $137,050 – $208,850
33% $171,550 – $372,950 $208,850 – $372,950
35% Over $372,950 Over $372,950
  • Standard Deduction: $5,700 single/$11,400 joint (up $250/$500 from 2008)
  • Personal Exemption: $3,650 (up $150 from 2008)
  • Gift Tax Exemption: $13,000 (up $1,000 from 2008)
  • Income Limit for Full Roth IRA Contributions:  $105,000 single/$166,000 joint (up $4,000/$7,000 from 2008)
  • Kiddie Tax Threshold: $950 (up $50 from 2008)

Tax Calculation Example: Single, Income $25,000

  1. The first $9,350 in income is tax free, so your taxable income is only $15,650 ($25,000-$9,350).
  2. Look at the tax bracket above, the first $8,350 in taxable income is 10% and the remaining taxable income of $7,300 is taxed at 15%.
  3. Total Tax is = ($8,350*10%) + ($7,300*15%) =$1,930


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