Income Tax Brackets And Marginal Tax Rates for 2010

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Tax season is in full swing and as people begin to prepare their taxes some will receive a large tax refund, others will break just about even and still others will be left with a tax bill. Most experts would agree that it is best to break even. If you received a large refund or owe the government money you may want to take a close look at the 2010 marginal income tax brackets. These figures can help you adjust your current deductions and know better what to expect for your 2010 tax return.

If you haven’t filed your taxes yet, then make it easier with tax preparation software such as TurboTax and H&R Block at Home (formerly TaxCut). Read my comprehensive review of popular tax software program TurboTax.

To read the charts below first look for your filing status. Then look for your level of income. For example if you are married, will be filing jointly and have a projected income of 100,000 you would pay $8,362.00 plus 25% on the income earned over $68,000. The $8,362.00 covers the amount you would pay on money earned under the $68,000in the 10% and 15% brackets.

Here are the Income Tax 2010 Marginal Rates:

Single Filers

  • 10% bracket = 10% on income between $0 and $8,375
  • 15% bracket = $837.50 + 15% of the income between $8,375 and $34,000
  • 25% bracket = $4,681.25 + 25% of the income between $34,000 and $82,400
  • 28% bracket = $16,781.25 + 28% on the income between $82,400 and $171,850
  • 33% bracket = $41, 827.25 + 33% on the income between $171,850 and $373,650
  • 35% bracket = $ 108,421.25 + 35% on the income over $373,650

Married Filers, Filing Jointly

  • 10% bracket = 10% on income between $0 and $16,750.00
  • 15% bracket = $1,675 + 15% of the income between $16,750 and $68,000
  • 25% bracket = $9,362.50 + 25% of the income between $68,000 and $137,300
  • 28% bracket = $26,687.50 + 28% on the income between $137,300 and $209,250
  • 33% bracket = $46,833.50 + 33% on the income between $209,250 and $373,650
  • 35% bracket = $ 101,085.50 + 35% on the income over $373,650

Married Filers, Filing Separately

  • 10% bracket = 10% on income between $0 and $8,375
  • 15% bracket = $837.50 + 15% of the income between $8,375 and $34,000
  • 25% bracket = $4,681.25 + 25% of the income between $34,000 and $68,650
  • 28% bracket = $13,343.75 + 28% on the income between $68,650 and $104,625
  • 33% bracket = $23,416.75 + 33% on the income between $104,625 and $186,825
  • 35% bracket = $ 50,542.75 + 35% on the income over $186,825

Filers Filing as Head of Household

  • 10% bracket = 10% on income between $0 and $11,950
  • 15% bracket = $1,195 + 15% of the income between $11,950 and $45,550;
  • 25% bracket = $$6,235 + 25% of the income between $45,550 and $117,650
  • 28% bracket = $24,260 + 28% on the income between $117,650 and $190,550
  • 33% bracket = $44,672 + 33% on the income between $190,550 and $373,650
  • 35% bracket = $ 105,095 + 35% on the income over $373,650

As you are finding your projected tax rate from the marginal tax brackets keep in mind that you will most likely have income adjustments and various deductions that you can claim. These charts represent your taxable income which under most circumstances will be lower than your total income.

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