Home Tax Brackets What are the 2009 Tax Brackets?

What are the 2009 Tax Brackets?

What are the 2009 Tax Brackets?

Similar to other years, the 2009 tax brackets are a progressive tax system that attaches a higher tax percentage to those individuals who have higher incomes. The United State’s Federal Tax system is a progressive system that levies a larger percentage or tax rate on higher earners. 
In relative terms the tax paid may be similar, however, the vast majority of funding comes from the highest tax bracket. Although tax brackets don’t change in function or system, the caps associated with income fluctuate. The differences in basements and ceilings is associated with inflation; as the dollar changes in value and purchasing power decreases wages are forced to rise. 
Tax brackets for 2009 range from 10 percent to 35 percent. The levy obtained from the Federal tax system is used to fund public services such as transportation, law enforcement agencies, the military, education, infrastructure, and a number of other goods or services. The 2009 tax brackets are as follows:
10 Percent–Single persons with taxable incomes up to $8,350 or married couples with income up to $16,700 fall in this bracket (the lowest of the 2009 tax brackets).
15 Percent–A single person with income between $8,350 and 33,950. If the person is married or files jointly the bracket rises to $16,700 to $67,900
25 Percent–for a single person’s income between $33,951 to $82,250 and a cap at $137,050 for married couples.
28 Percent–A single person with income between $82,251 to $171,550 will pay 28 percent in income taxes. A married couple in this bracket will possess income between $137,050 to $208,850.
33 Percent–A single person with an income between $171,551 to $372,950 will pay 33% in income taxes. Married couples with an income between $208,851 to $372,950 will fall in this bracket.
35 Percent–Individuals paying more than $372,950 pay 35 percent, no matter their filing status.



Previous articleWhat to Know About State Tax
Next articleThe Biggest Tax Crimes To Avoid