2010 Tax Rates Schedule X - Single

If taxable income is over

But not over

The tax is

$0

$8,375

10% of the taxable amount

$8,375

$34,000

$837.50 plus 15% of the amount over $8,375

$34,000

$82,400

$4,681.25 plus 25% of the amount over $34,000

$82,400

$171,850

$16,781.25 plus 28% of the amount over $82,400

$171,850

$373,650

$41,827.25 plus 33% of the amount over $171,850

$373,650

no limit

$108,421.25 plus 35% of the amount over $373,650

2010 Tax Rates Schedule Y-1 - Married Filing Jointly or Qualifying Widow(er)

If taxable income is over

But not over

The tax is

$0

$16,750

10% of the taxable amount

$16,750

$68,000

$1,675 plus 15% of the amount over $16,750

$68,000

$137,300

$9,362.50 plus 25% of the amount over $68,000

$137,300

$209,250

$26,687.50 plus 28% of the amount over $137,300

$209,250

$373,650

$46,833.50 plus 33% of the amount over $209,250

$373,650

no limit

$101,085.50 plus 35% of the amount over $373,650

2010 Tax Rates Schedule Y-2 - Married Filing Separately

If taxable income is over

But not over

The tax is

$0

$8,375

10% of the taxable amount

$8,375

$34,000

$835 plus 15% of the amount over $8,375

$34,000

$68,650

$4,675 plus 25% of the amount over $34,000

$68,650

$104,625

$13,343.75 plus 28% of the amount over $68,650

$104,625

$186,825

$23,416.75 plus 33% of the amount over $104,625

$186,825

no limit

$50,542.75 plus 35% of the amount over $186,825

2010 Tax Rates Schedule Z - Head of Household

If taxable income is over

But not over

The tax is

$0

$11,950

10% of the taxable amount

$11,950

$45,550

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

$45,550

$117,650

$6,235 plus 25% of the amount over $45,550

$117,650

$190,550

$24,260 plus 28% of the amount over $117,650

$190,550

$373,650

$44,672 plus 33% of the amount over $190,550

$373,650

no limit

$105,095 plus 35% of the amount over $373,650

2010 Tax Rates Estates & Trusts

If taxable income is over

But not over

The tax is

$0

$2,300

15%

$2,300

$5,350

25%

$5,350

$8,200

28%

$8,200

$11,200

33%

$11,200

no limit

35%

Social Security 2010 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%

Education 2010 Tax Rates

Hope Credit

$2,500

Lifetime Learning Credit

$2,000

Student Loan Interest Deduction

$2,500

Coverdell Education Savings Contribution

$2,000

Miscellaneous 2010 Tax Rates

Personal Exemption

$3,650

Business Equipment Expense Deduction

$250,000

Prior-year safe harbor for estimated taxes of higher-income

110% of your 2009 tax liability

Standard mileage rate for business driving

50 cents

Standard mileage rate for medical/moving driving

16.5 cents

Standard mileage rate for charitable driving

14 cents

Child Tax Credit

$1,000

Unearned income maximum for children 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 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

Unlimited for 2010

Annual Exclusion for Gifts

$13,000