How Do You Compute Federal Tax Percent Brackets For Personal Income?
The federal personal income tax system in the United States is a progressive tax, meaning that higher income levels are taxed at higher rates. For example, in 2009, the first $8,350 for singles is taxed at 10 percent while income over $372,950 is taxed at 35 percent. However, the tax brackets are subject to change over the years. To computer your federal tax brackets, you need to know your adjusted gross income and your filing status. Determine your filing status for your taxes. If you are unmarried with no dependents, file a single return. If you are single but have dependents, you may be eligible to file as a head of household, which entitles you to a larger standard deduction and different tax brackets. If you are married, you can either file a joint tax return with your spouse, in which case you file as married filing jointly, or two separate returns, in which case your filing status would be married filing separately. Determine your adjusted gross income. This is your total taxabl
