Tax
Rates
for 2010...
2010 Tax Rates
Below are the
marginal
tax rates for 2010. Tax rates progressively
increase
as income increases. The tax rates apply only
to
the income in each tax bracket range. Also, the tax
rates
apply only to taxable income. Various adjustments
and
deductions, including the standard deduction and
personal
exemptions, all lower your taxable income.
Taxable
income is almost always less than your total
income.
Capital gains are taxed
at different tax
rates.
Capital gains tax rates are calculated
separately.
Note: These tax rate schedules
are provided for
tax
planning purposes. To compute your actual income
tax,
please see the 2010 instructions for Form 1040,
1040A,
or 1040EZ as appropriate.
How Marginal Tax Rates are Used
Individuals can use the
tax
rate schedules in a number of ways to help plan
their
finances. You can use these tax rates to figure
out
how much tax you will pay on extra income you earn.
For
a taxpayer in the 25% tax bracket, extra income will
be
taxed at that rate until the taxpayer reaches the
next
tax bracket. Alternatively, you can use these tax
rates
to figure out how much tax you will save by
increasing
your deductions. For a taxpayer in the 28%
tax
bracket will save 28 cents in federal tax for every
dollar
spent on a tax-deductible expense, such as
mortgage
interest or charity.
Source: Internal Revenue Service, Revenue
Procedure
2008-66
(pdf).
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