Tax Rates

Timothy P. Deegan
CPA & Company

9200 NW. 36th Place Suite-A
Gainesville, Florida 32606

Ofc. 352.337.0020
Fax 352.337.0040
Cell 352.494.6197

2006 Rates

2007 Rates

2008 Rates

2009 Tax Rates

2009 Tax Rates Schedule X - Single

If taxable income is over--

But Not Over --

The Tax is:

$8,350

10% of the taxable amount

$8,350

$33,950

$835 plus 15% of the amount over $8,350

$33,950

$82,250

$4,675 plus 25% of the amount over $33,950

$82,250

$171,550

$16,750 plus 28% of the amount over $82,250

$171,550

$372,950

$41,754 plus 33% of the amount over $171,550

$372,950

no limit

$108,216 plus 35% of the amount over $372,950

2009 Tax Rates Schedule Y-1 - Married
Filling Jointly or Qualifying Widow(er)

If taxable income is over--

But Not Over --

The Tax is:

$16,700

10% of the taxable amount

$16,700

$67,900

$1,670 plus 15% of the amount over $16,700

$67,900

$137,050

$9,350 plus 25% of the amount over $67,900

$137,050

$208,850

$46,741.50 plus 33% of the amount over $208,850

$208,850

$372,950

$46,741.50 plus 33% of the amount over $208,850

$372,950

no limit

$100,894.50 plus 35% of the amount over $372,950

2009 Tax Rates Schedule Y-2
Married Filing Separately

If taxable income is over--

But Not Over --

The Tax is:

$8,350

10% of the taxable amount

$8,350

$33,950

$835 plus 15% of the amount over $8,350

$33,950

$68,525

$4,675 plus 25% of the amount over $33,950

$68,525

$104,425

$13,318.75 plus 28% of the amount over $68,525

$104,425

$186,475

$23,370.75 plus 33% of the amount over $104,425

$186,475

no limit

$50,447.25 plus 35% of the amount over $186,475

2009 Tax Rates Schedule Z - Head of Household

If taxable income is over--

But Not Over --

The Tax is:

$11,950

10% of the taxable amount

$11,950

$45,500

$1,195.00 plus 15% of the amount over $11,950

$45,500

$117,450

$6,227.50 plus 25% of the amount over $45,500

$117,450

$190,200

$24,215 plus 28% of the amount over $117,450

$190,200

$372,950

$44,585 plus 33% of the amount over $190,200

$372,950

no limit

$104,892 plus 35% of the amount over $372,950

Miscellaneous 2009 Tax Rates

Personal Exemption

$3,650

Business Equipment Expense Deduction

$133,000

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 before kiddie tax applies

$1,900

Maximum capital gains tax rate for taxpayers in the 10% or 15% bracket

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 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

We welcome any questions or comments you may have. Feel free to contact us at any time by clicking on the link to the left.

Office...           Cell...              Fax...                 Email...
352.337.0020      352.494.6197   352.337.0040       Taxdeegan1@aol.com

Timothy P. Deegan, CPA & Company
9200 NW. 36th Place Suite - A
Gainesville, Florida 32606-6688

You can also send us a message directly through the Contact page of this web site.