Tax Facts
| Individual Tax Rates 2009 | |||
| Tax Rate | Single Taxable Income |
Married/Joint Taxable Income |
|
| 10% | 0 -- $8,350 | 0 -- $16,700 | |
| 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 | |
| Corporate Tax Rates 2009 | |
| Income | Tax Rate |
| 0 -- $50,000 | 15% |
| $50,000 -- $75,000 | 25% |
| $75,000 -- $100,000 | 34% |
| $100,000 -- $335,000 | 39% |
| $335,000 -- $10,000,000 | 34% |
| $10,000,000 -- $15,000,000 | 35% |
| $15,000,000 -- $18,333,333 | 38% |
| $18,333,333 and above | 35% |
| Certain personal service corporations | 35% |
| Miscellaneous Deductions/Exemptions | |
| Standard Deduction - Married Filing Joint Return | $11,400 |
| Standard Deduction - Single | $5,700 |
| Personal/Dependent Exemption | $3,650 |
| Maximum Deferral on 401(k) and 403(b) Plans 2009 and 2010 | $16,500/$22,000 |
| Self-Employed Health Insurance Deduction | 100% |
| Standard Mileage Rates 2009 and 2010 | |
| Business | .55¢ for 2009 - .50¢ for 2010 |
| Charitable | .14¢ for 2009 and 2010 |
| Medical/Moving | .24¢ for 2009 - .165¢ for 2010 |
| FICA Rates 2009 and 2010 | |
| Maximum FICA Earnings | $106,800 |
| FICA Tax Rate | 6.20% |
| Medicare Tax Rate | 1.45% |
| Self-Employment | 15.30% |
| Depreciation Lives | ||
| Category | Years | |
| Software | 3 | |
| Autos and computers | 5 | |
| Office equipment | 7 | |
| Residential real property | 27.5 | |
| Commercial real property | 39.0 | |
| Section 179 limitation | 2009 $250,000 | 2010 $134,000 |
| Federal Filing Dates - 2008 Tax Year | |
| Individuals | April 15 |
| Trusts/Estates | 15th day of 4th month after year end |
| Partnerships/LLPs | 15th day of 4th month after year end |
| S Corporations | 15th day of 3rd month after year end |
| C Corporations/LLCs | 15th day of 3rd month after year end |
| Non-Profits | 15th day of 5th month after year end |
| Pension/Benefit Plans | last day of 7th month after year end |
