comments
Official 2011 US Income Tax Brackets (IRS Tax Rates)
Email
 Print
|
With every new year comes a “little” tweaking of income taxes and this year is no different. Three weeks ago, we didn’t what was going to happen to our tax rates since Congress had yet to act on the expiring Bush era tax cuts. With the clock winding down, they opted to extend them by two years and so the only change you’ll see is an adjustment for inflation.
This year we’ll be presenting them a little differently. Some readers are here just to find out their marginal tax rate and others want to find out how much in taxes they’ll be paying. So this year you’ll see a listing of all the marginal tax rates first, followed by a breakdown of taxes due (without accounting for deductions and other adjustments).
2011 IRS Tax Brackets
Here are the 2011 tax tables, which make it easy to find which marginal tax bracket you are in:
| Tax Bracket | Single | Married Filing Jointly | Head of Household |
| 10% Bracket | $0 – $8,500 | $0 – $17,000 | $0 – $12,150 |
| 15% Bracket | $8,500 – $34,500 | $17,000 – $69,000 | $12,150 – $46,250 |
| 25% Bracket | $34,500 – $83,600 | $69,000 – $139,350 | $46,250 – $119,400 |
| 28% Bracket | $83,600 – $174,400 | $139,350 – $212,300 | $119,400 – $193,350 |
| 33% Bracket | $174,400 – $379,150 | $212,300 – $379,150 | $193,350 – $379,150 |
| 35% Bracket | $379,150+ | $379,150+ | $379,150+ |
Tax Preparation Packages
Remember that these are brackets after you take into account deductions, credits, and the thousand other “little things” the IRS has cleverly hidden in their enormous codified tax law. Fortunately, there are plenty of inexpensive tax preparation packages out there, many of which are free to low income earners, to help you along. Here are just a few:
Tax Preparation Packages
| Company | Package | Price | Notes |
|---|---|---|---|
 Intuit |
TurboTax Deluxe | $49.95 |
Free for 1040EZ &low income, Deluxe imports last year’s return, full Form 1040 filing. Free e-file. |
 2nd Story Software |
TurboAct Deluxe | $9.95 |
Free for 1040EZ & low income, Deluxe + State for $17.95, Deluxe includes all IRS forms. Free e-file. |
 H & R Block |
Deluxe | $49.95 |
Free for 1040EZ & low income, Deluxe for homeowners & investors, Free e-file. |
 Petz Enterprises |
TurboBrain Deluxe | $39.95 |
1040EZ for $14.95, 1040 Deluxe for $39.95, Tax Expert available at $129.95. |
Taxes Due
If you are trying to calculate your taxes due, these tables may be more helpful. Remember that taxes are due on your adjusted income after accounting for deductions and other adjustments.
Single Filers
These tables are for single filers who are not surviving spouses or heads of household:
| Taxable Income | Tax |
| $0 – $8,500 | 10% of taxable income |
| $8,500 – $34,500 | $850 plus 15% of excess over $8,500 |
| $34,500 – $83,600 | $4,750 plus 25% of excess over $34,500 |
| $83,600 – $174,400 | $17,025 plus 28% of excess over $83,600 |
| $174,400 – $379,150 | $42,449 plus 33% of excess over $174,400 |
| $379,150+ | $110,016.50 plus 35% of excess over $379,150 |
Married & Surviving Spouses
These tables are for married filing jointly or surviving spouses:
| Taxable Income | Tax |
| $0 – $17,000 | 10% of taxable income |
| $17,000 – $69,000 | $1,700 plus 15% of excess over $17,000 |
| $69,000 – $139,350 | $9,500 plus 25% of excess over $69,000 |
| $139,350 – $212,300 | $27,087.50 plus 28% of excess over $139,350 |
| $212,300 – $379,150 | $47,513.50 plus 33% of excess over $212,300 |
| $379,150+ | $102,574 plus 35% of excess over $379,150 |
Head of Household
These tax tables are for those considered Heads of Household:
| Taxable Income | Tax |
| $0 – $12,150 | 10% of taxable income |
| $12,150 – $46,250 | $1,215 plus 15% of excess over $12,150 |
| $46,250 – $119,400 | $6,330 plus 25% of excess over $46,250 |
| $119,400 – $193,350 | $24,617.50 plus 28% of excess over $119,400 |
| $193,350 – $379,150 | $45,323.50 plus 33% of excess over $193,350 |
| $379,150+ | $106,637.50 plus 35% of excess over $379,150 |
Married Filing Separately
These are tax tables for those filing as Married Filing Separately:
| Taxable Income | Tax |
| $0 – $8,500 | 10% of taxable income |
| $8,500 – $34,500 | $850 plus 15% of excess over $8,500 |
| $34,500 – $69,675 | $4,750 plus 25% of excess over $34,500 |
| $69,675 – $106,150 | $13,543.75 plus 28% of excess over $69,675 |
| $106,150 – $189,575 | $23,756.75 plus 33% of excess over $106,150 |
| $189,575+ | $51,287 plus 35% of excess over $189,575 |
With the passage of the Bush era tax cut extension, these brackets aren’t much different than the 2010 tax brackets after an adjustment for inflation.
If you want to learn more, you can check out the always fun to read IRS Revenue Procedure 2011-12. And lastly, if you’re curious when are taxes due this year? April 17th, 2012.
(Photo: kozumel)
{ 383 comments, please add your thoughts now! }Related Posts
 By Jim |
 Stumble It! Bookmark reddit.comTags: Income Tax Jan 10, 2011 | Read more in Taxes |
Like this article? Get all the latest articles sent to your email for free every day. Enter your email address and click "Subscribe." Your email will only be used for this daily subscription and you can unsubscribe anytime.
Are these charts determining how much is going to be taken out of my check or how much I can expect to get back?
That’s how much they will rob from you:-)
Neither. This is a chart that, against your Adjusted Gross Income (AGI), you will be liable for in Federal Taxes.
How much money is taken out of your paycheck is determined by your witholding settings with your payroll dept. in an effort to “pre-pay” most if not all of that liability.
In general, what you get back, if anything, is the amount that witholding may have exceeded your tax liability.
Individual circumstances differ from that, but I think that is the gist of it.
It’s a chart for Taxable Income (TI) not Adjusted Gross Income (AGI)
you only get money back if they took too much from you in the first place. That’s money you could be earning interest on sitting in your bank. If you get a large refund check you need to check your with holdings. Never let uncle sam have more than you have to.
if this was a facebook status i would like it
Yeah because the bank interest rates are soooo high right now. That extra $2,000 would gain you a whopping $20 a year. Might as well have Uncle Sam take it and give it back to you in a lump sum so you can treat it as a bonus check and go spend it on crap to help stimulate the economy. Just my 2 cents.
how does spending $2000 at the end of the tax year stimulate the economy more than spending $2020 throughout the year? its like jump starting a car after the battry is dead… why not just keep pumping juice into it so it doesnt die in the first place.
I hope you’re a real estate broker, because econimcs/finance might not be your calling. just remember $1.00 in hand is worth more than a $1.00 (or in this case $1.10) in the future.
If you spend that silly $40/week on junk you don’t need, however, it is not a wise investment. For those who don’t “save” well, you’re better off getting a one-lump sum and saving it to put to good use.
Are you serious? Everyone who thinks it’s such a good idea to lend out money for a year at 0% interest, PLEASE let me know. I’ll take all the money you want to lend me and gladly pay you back that same amount a year later.
Lend it out at 0% instead of the whopping 1% banks are paying. Big Deal. I pay all my bills, still put away 2000 a month and when April comes and I get 5k back, I fund my roth ira for the year. It’s squabbling over peanuts.
Anonymous #1: You’re assuming that the money you’re not ‘giving to Uncle Sam’ will be placed in an account drawing interest for the full year. Not many people that I know (including yourself, obviously) would earn the full amount of interest because they would ‘stimulate the economy throughout the year’. I’m fully with Anonymous #2, and have been doing it for years: claim single and zero dependants and collect a nice bonus check at the beginning of the year. You can do more with a lump some than pocket change, plus, you’re more likely to save large amounts.
Yeah, who needs $20 a year right? Work for 40 years with those interest rates (and they will get higher)and thats… well s**t $8000 (minimum) that you wouldn’t have otherwise. Give me a choice, I’ll take the 8 grand…but maybe that’s just me?
How much does the IRS take out of my weekly pay check for taxes
I pay estimated taxes, so this is handy info.
I compared them to 2010 and they are slightly lower.
Thanks
Bill Snider
why was the social security payroll tax rate reduced from 6.2% to 4.2% ? i thought the social security system was in trouble?,the rate should have stayed the same and no limit?
Just part of the legislative compromise that allowed for the extension of the BushII-era tax cut/brackets.
From my understanding, there won’t be any adjustment to the benefits promised by the SSA. They’ll just have to make do with less of a contribution from individuals (employers withholding for SSA is not changin).
On the surface, it would seem that legislators are cutting funds from a program that is already in fiscal jeapardy…
I may be way off base, but my opinion is that the Right isn’t all that concerned with saving SS. They would prefer to privatize SS and anything like this that hastens the demise of the SSA may serve to facilitate that end. We’ll see.
GIVE ALL OF US A BREAK.
The Right did not pass a cut in Social Security Witholding…..both Houses of a Democratic-controlled Congress and signed by a Democrat President forced it down all of our collective throats. I suspect it will be the usual Screw The U.S. Citizen Program.
Congress should pass and abide by a law that says Social Security benefits provide Old Age/Handicapped Security to CITIZENS of the United States. Anyone working here pays into our U.S. Social Security System for citizens of the United States, and if workers are not citizens, we tell them “Thank you.”
They tell us “Thanks for the job & income.”
The federal government is making up the difference to the Social Security Administration. So its just pulling money from one bucket to another. Unfortunately, neither bucket has enough money in it.
You realize that people that are self employed not only pay your ss tax but also have to pay double their own, right? They lowered it because I’m not hiring another person and my business will not grow if they don’t. That means people like you won’t have a job. Not to mention they encourage business people to make less money by setting this crazy bracket to where I make less on purpose so I don’t have to pay out more!
You say they haven’t changed much, but when I inputed the annual tax table into our payroll program one of our employee’s got hit hard on the Federal this week on a 40 hour check. Last year that check had $1.54 taken out for federal, this week, $27.54! That’s HUGE. There were no changes to her exemptions. She’s on the lower end of the wage scale, is there something I can look at that maybe is set up wrong? Also, I noticed that nearly everyone’s check went DOWN as opposed to UP with this new tax table. I’m sure they’re all going to say, hey I thought our checks were supposed to go UP??????
While the brackets were updated, and the new withholding for the SSA just went down 2%, the Making Work Pay credit that Obama instituted last year has expired. For those at the lower end of the pay scale, that credit was larger in effect than the decrease in the SSA. So that could explain some of the reason their federal went up.
Or, it could be your payroll program. Certainly worth it for this person for that to be checked out, too.
Angela, thanks for your post. We noticed the same thing. There are just two of us on salary here, the others are hourly. Of the salaried employees, my semi-monthly deduction for federal taxes for the first half of January was $23.55 more than the semi-monthly deduction in 2010. My overall check was about $10 higher due to the decrease in OASDI withholding. Another of our employees had an increase of $23.55 in federal taxes and a decrease of 21.25 in SS for a net loss of $2.30. I don’t understand why taxes have gone up, when I thought the Bush tax cuts had been continued. I’m also concerned that we’re cheating Social Security.
The taxes from my pension check increased 34% starting in January. I’ve already written to my 2 congressmen and senator. Sure hope others do likewise.
My sister-in-law said they were told that the higher tax rates were already in place, and it was too late to make the change before the January deductions. Also said that they (IRS?) was still trying to figure things out.
My husband’s pension check for the month of Jan remained the same. I guess it was to late to make the new changes.
When we received the notice that the Feb deposit had been made, our Fed Tax went up nearly $50.00.
IF the Bush tax cuts were extended, then why didn’t the Fed Tax remain as it was?
You might remember to take into consideration your state’s Unemployment Tax. It is only charged up until the employee makes a base of $8k-$20k, depending on the state. The change in net wages your employee makes will go up after that unemployment tax base is reached.
Just got my check & the Feds took an extra $32. on top of the $8. that my insurance went up. Plus, no cost of living raise for 2 fricking years. But, Egypt has been getting 1.5 billion dollars from the U.S. YEARLY. That could go a long way helping out social security. The dictators & our gov. steal all the money that is sent to other countries.
Mia: Me TOOO had $30 increase in taxes, I am fuming. It is deceitful for Obama to say in his Union address that this year thanks to the extended tax cuts that mid income families will see no reduction in t heir take home pay yet my first check out has $30 deducted. That’s a lot considering there’s no increase in SS this year. I am told that one of the tax credits we people were given expired. So I suppose that all the other credits were voted to be extended. If that is the case. That’s fine, but to tell us we won’t see a reduction is a big lie.
I concur with the raise in Federal Taxes. My retirement Federal Withholding has increased by $49.00 over what I was paying in CY 2010
The federal went up, but the Medicare went down. They pretty much wash
$1.54 federal tax on a 40 hour paycheck, regardless of wage rate, is incorrect. If what you are saying is true, some type of mistake was made somewhere.
Thanks Jim!
I assume the values in the $ columns are adjusted gross income (after deductions).
Yes, you’re always taxed on AGI. There are adjustments if you are affected by AMT though, which aren’t reflected in those tables.
Ok, I only work PT making $10/hour. My Fed taxes shot up from $7.00 per check (bi weekly) to $30.00! This SS tax credit means absolutely nothing to me. My paycheck is actually $11 less!
That being said, my husband’s check increased by $20. Is my check affected because I don’t make enough money? Is it because it’s the first check of the new year? I just don’t understand how my fed taxes tripled just by the “making work pay” tax credit ending.
I converted an IRA into a ROTH last year. Does that converted money count as regular income or is there a special tax table for ROTH converted money? I am not taking advantage of the 2 year distribution of income allowed in 2010 so will the complete amount will count as income?
If I paid approx. $8k in taxes (Fed, state, soc. sec., State income tax, etc) and in my tax bracket, the tax is $4750 max taxes, does that mean that I should get a hefty refund, or is the above chart strictly for Federal Taxes? Thanks!
Realist – Republicans cut a backroom deal with Obama, that FORCED all republicans and democrats in congress, senate to support.
That is FACTUALLY what happened.
BOTH PARTIES are to blame for this crap we were handed. I am not so upset about the rise in the federal taxes…not nearly as upset as I am about the cut in social security, and you can bet your bottom dollar – that was a republican decision, not Obama’s. Democrats are not the ones publically calling for its destruction…and you know this.
Bookmarked! I wanted a page to reference everything. Thanks for the info.
I am trying to “estimate” my taxes for this year…I havent got my W2 in for the year yet but I am going by my last paystub so can someone help me? I grossed 36,212.69 and paid 3, 123.27 in federal, 1,748.63 in FICA, 408.95 in Medicare, 1,327.27 in state tax, 6,577.48 in Medical, 445,12 in Dental, 1,161.52 in 401k, 986.37 received from Profit Sharing and 50 in charity taken out. What would I use for a figure for my wages? Again this is only for estimating what Ill get back this year so we can plan it.
Why not download a tax prep package (TurboTax or TaxCut or whatever) and just run through it? You will be able to prepare your taxes for free anyway because of your income.
If your filing for yourself, you can go to your nearest IRS office and get them done for free. I believe the criteria is < $48,000/yr.
FREE!!! This is not applicable to 1099 earners
I wish I could do them free. It costs me over $300 to have them done every year.
Yes, you can go to Turbo Tax…and even fill in the questions first to see what it comes up with. You can do it FREE…or pay extra to have more support.
This is exactly what I was looking for. Thanks for sharing!
The reduction in SS tax was the price to be paid to extend the other tax rates. Stimulus is generally a Dem idea and this is a bad one by my estimation. Of course both parties voted for it so both are guilty!!!
my income is 23552.00 of which 10626.00 is from SS. also,1967.00 is from the lottery. I have paid only 276.00 in fed. taxes. Will my SS be taxed due to the lottery and the 10,958. in retirement. I am 66 years old.
They start taxing SS if your total is $25,000+..but not as much. Also, around age 66 you can work all you want and not pay tax on your SS. Your SS will not be taxed this year.
My husband was on unemployment most of last year, from Feb. on….How do we determine how much taxes he will owe on the unemployment? Is it 10% of what he received?
I just did a DiL’s tax return and found that:
All unemployment received in 2010 is taxable. The Federal tax tables (consulted after standard or itemized deductions) are about 10% of the adjusted gross income.
Hope this helps a bit.
I’m really baffled. I teach and I just received my first paycheck of 2011. I was really surprised to see that my net pay had once again been cut, this time by about $32. When I compared this check to last month’s check it turned out that my California state taxes had dropped about $20 and my federal taxes had increased by about $50, leaving me with a net loss of $30. That $30 is really a hit for me, believe it or not. My salary hasn’t increased. In fact we took a pay cut that took effect in Sept. so I don’t really understand what is going on. The charts above don’t seem to help. Can someone enlighten me or at least help me to know what the right questions are to ask at the payroll office?
I’m with you on this one Robyn, yesterday was my 2nd paycheck of the year, although I work unsteady hours, they are ~35-45 a week, not to bad considering the economy. I thought having a small check on the 15th was a fluke, after yesterday’s payroll, I can see it is not. I’ve looked at the same time frame from last year and found the difference, my Fed went up by 9%, that’s ALOT at my tax bracket. Can someone point me in the correct direction for information on this?
Just a question as i dont know much about this stuff. Me and my wife file joint married. I made 15532 in unemployment this year. From looking that this chart, it looks like i pay in 10% of the part that is taxable. Being that the first 2500 of unemployment is not taxable. How much would i pay in?
I’ll add that the 2011 Personal Exemption is $3750, which is up $100 from 2010.
The standard deduction is up $100 this year and is now $5800 for single filers (double that for married).
So if your pay is the same as last year, most workers should save $20-50 (depending on their tax bracket) because of this change.
Last year there was an extra $1,000 added to the standard deduction for property taxes I think. I heard that is not around this year.
FYI…I saw that someone mentioned that the Making Work Pay Credit has expired…it is still in place…$400 for filing single, $800 for filing joint….make sure you file the correct form in order to secure the credit.
Use the IRS Withholding calculator to get an idea of where you will be at come tax time next year. Here it is: http://www.irs.gov/individuals/page/0,,id=14806,00.html
It expired for 2011 but you can still claim it for 2010.
The Federal income tax witheld on my pension check was 20% higher. According to my pension administrator a tax cut expired the end of 2010. I am looking on this forum to find out what the name of that cut was. Can anyone help out? Thanks!
Mine too! Does anyone have the answer? Mine went from $4.00 to 44.00 deducted.
The married filing jointly chart has a mistake. For the 15% tax bracket it ends with $34,500 not $34,400 in the single filers tax table. I am sure that it was just a typo…
This was on the single chart, not the mfj chart. My typo…
Jody, found it and fixed it. Thanks!
The taxes on my monthly pension check went from $48 in CY 2010 to over $97 in 2011. That’s over a 100% increase. Where’s the tax cut extension? Making Work Pay is not an issue here. This is a pension check.
If I make 25000 a year and my standard deduction is 8500 then does that put my taxable income at 16500? I have never understood exactly how a standard deduction worked.
Christal,
In a word, YES. Using your example, your taxable income would be 16500. (Keep in mind that there are other things that make up your Adjusted Gross Income or taxable income, such as savings account interest, capital gains on investments that are not in an IRA, as well as the individual deduction, etc).
The standard deduction is used by anyone who does not want to or can’t itemize their deductions (mortgage interest, property taxes, donations, etc). It is also used by those whose total of itemized deductions is less than the standard deduction (use whichever deduction is larger). There are also other deductions and credits for 2010 tax returns, such as the Making Work Pay ($400 for single filer).
I just buy the TaxCut software program ($20) and simply punch in the numbers as it requests them. That way I know I’m getting all available deductions and credits and my tax return is correct – won’t get rejected by the IRS. I’ve heard TurboTax is also easy to use, and of course now there are a number of FREE tax prep sources online – Google search will point you to them. Good luck.
The standard deduction is a fixed dollar amount that reduces the amount of income on which you pay tax on your tax return.
In some cases, the standard deduction on your tax return can consist of two parts, the basic standard deduction, and an additional standard deduction amount for age, blindness, or both.
I owe…I owe…so off to work we all will go! Oh, wouldn’t it be nice if our money was being put to good use!!
So if workers receive 2% more in their paycheck due to reduction in the Soc. Security tax from 6.2% to 4.2% and the income tax rates remain nearly the same with adjustment for inflation, the worker will pay higher taxes. Doesn’t that destroy the benefit? It doesn’t sound like any benefit or stimulation for the economy to me.
Yes, but income tax rates went down.
Would be nice if we bring the tax credits to record level profiting Oil companies, we might be able to use the cost of those credits to things like our own personal taxes.
if there was an adjustment on my withholding tax due to inflation, then how come there wasn’t an increase in my social security retirement check to cover inflation? the gov’t has told us that for 2 years now there was no cost of living increase in ssa retirement checks(first time since ssa inception) because there wasn’t a large enough increase in the cost of living. i must be living on a different planet then. all my costs for gas, fuel oil, electricity, home and auto insurance, health insurance, food, clothes, eyecare, dental care, etc., have skyrocketed. did i miss something?? thank you.
So isn’t thiss still a tax increase???
I have had to work for -0- 1 day amonth since july 2010, but I get a 25% increase in the cost of living on my 2010 taxes. Is this president nuts.
So isn’t this still a tax increase???
I have had to work for -$0- 1 day a month since July 2010, but I get a 25% increase in the cost of living on my 2010 taxes. Is this president nuts.
Reply
To everyone saying your check went down because your federal income tax withholding went up: poster “NateUVM” is correct. The “Making Work Pay” tax credit, $400 last year, is gone. That credit was the same for everybody. The 2% cut in FICA withholdings will obviously be different for each person. If you make less than about $20,000 per year, the $400 credit was worth more to you last year than the 2% drop in FICA withholdings this year; hence, your Federal withholdings must rise. The less you make, the greater the proportional increase in your Federal withholdings.
Just received in the mail a statement from
military retirement services and my federal income tax will increase 73% starting the lst of March. now we know whose going to pay for
OBAMA CARE. the retires.
I trust the Federal Government with my Social Security far more than having a right wing privite organization running it with crooks like
Bernie Madoff and Ken from Enron stuffing the money in their pockets.
Just heard from a friend that she and her husband are getting back $17,000 in income tax refund. How does that happen?
It happens when you pay $17,000 too much.
In viewing all these comments it’s apparent we need a flat tax with no deductions. That would simplify everything and no time or money would be wasted trying to determine how much we owe on taxes. I like 10%. If 10% is good enough for God, then it ought to be good enough for Washington and my state.
Why would the “Making Work Pay” credit effect my retirement check? Isn’t it only on income you earn by having a job?
Rational – I don’t know your friend, but I’ve found from experience that people who don’t work, get food stamps, medicaid, have LOTS of kids for tax breaks, etc get everything handed to them again in the form of tax refunds. There are so many deductions and credits available if you don’t try. When I was a single mom I was shocked at the refund I got all because I didn’t make much money and because my ex refused to pay his child support I HAD to have government help ONCE during the year. I got a good refund that year! Now that my current husband and I make good money and pay all our bills on time, we have to pay extra during the year just to keep from owing in the end.
Same goes for college financial aid for our son. The government tells us we make enough money we don’t need the help. Nevermind that he’s going to be on his own, they base it on our tax forms from last year. I had a college guide actually tell me why we don’t qualify. So I asked my husband (right there in front of the college guide) if he would divorce me. Of course we were then told it is based on last years taxes not this year, so if we did that he would have to wait til next year to go for me to get any help. Not worth it. I’ll just stay happily married and find a way to make it.
20 and engaged and asking a fairly naive and poorly conceived question. Don’t get married. Spend the money on books and/or college.
After reading the messages above and filtering out the political posturing, one thing seems obvious. If we have another revolution it will be because of the opaque, irrational and unintelligible tax code that nobody, absolutely NOBODY, fully understands
Has anyone noticed that the IRS Form 1040 instructions for 2010 ran to 180 pages – and that does not count the zillion other forms. On reading some of this I got the impression that anyone who refinanced a mortgage over $50k would lose the mortgage interest deduction. But then, maybe I was just confused by Publication 936………
When are we going to stop congress and the president from stealing our money? As a nation we once stood up to the tyranny of the king. Could it be time to stand up again? Let’s face it, congress and the president DO NOT have our interest in mind when plotting the stealing of our hard earned dollars. There is no equality OR justice in the past, current, or foreseeable future. They will not look out for us, only we can – and it is time we do just that.
Don’t sit idly by and let them ruin our great land. Vote to remove those from congress! Work to remove THEIR golden parachute, and THEIR pensions. They should be compensated as some of our city officials. They do not deserve 6-digit salaries WITH additional benefits. Make them pay their own health care and receive the same care, long waits for appointments, and to deal with the insurance sharks.
It is said they represent us? Do they? Let’s hold them accountable…
So my husband and I are both self employed. Our taxable income was only $20k, but we owe $8k in taxes. How is this even possible? Perhaps we should stop working and trying to pay our bills, sit on our butts and collect welfare & have the government pay for our health insurance, etc. Tired of trying.
that is not possible. See tax tables above
ALS: You should hire an accountant to look at that.
Interesting, you all want everything but aren’t willing to pay for it. Well your tax rates are overly generous apart from those of low income earners. I can’t split my income with my wife and pay up to 46% tax on my income of $75,000. What’s wrong with the USA?
The IRS has a new slogan for 2011:
We are here for you, so we can take more from you!
And why am I made to pay SS if it will be drained by the time I retire? Maybe when I’m 65 they will give me an IOU
At the rate Obama is spending we might need to start learning Chinese.
As of Dec 2010 we owed china 891 billion and 883 to Japan.
If you look at the treasury numbers, what China, Japan, and Britain owns COMBINED of our debt is a pittance to what the federal reserve, insurance companies (US), brokerage accounts, BOND Funds, etc. We owe our own federal reserve 5.5 trillion, and us SAVINGS BOND holders 3.2TRILLION DOLLARS. Get the real facts and stop listening to the pundits and politicians.
Same thing with oil imports – we import more oil from Canada and Mexico than all other coutries combined, including Saudi Arabia and Venezuela.
Ask you representative or senators to be able to say to the press what the true numbers are, and they won’t do it. Telling the truth doesn’t get them votes, making you think they know what they’re doing does.
During my life-time there have been twelve different presidents;six Democrats and six Republicans, and it has always been the middle-income workers who have had to do most of the sacrificing time and time again no matter who controls the politics in DC. There is a saying amoung a growing number of middle-income people; “We work so the rich can get richer, pay taxes so the lazy can get almost unlimited government help, and now we are forced to pay so the Illegal’s can get their unearned share of government handouts when they have children who become legal citizens by birth.” Wake up Middle-Income America we are being taxed above the table and under the table – If you get my meaning. I once was looking forward to retiring when I turn sixty-six but now I realize I will have to continue to work just to make ends meet.
Oh well, I guess it is my American duty to support the rich, the lazy and the Illegals.
@ron: Sing me another sob story please. You are correct that you are like middle america. Spending your life feeling like you do everything and always get screwed. What have you really done to advance yourself? Challenge yourself? I would beg to say the rich are the ones supporting you otherwise you wouldn’t have a job. Believe me when I say the rich pay their fair share. Don’t buy into the whole poor boo-hoo middle class does everything bull. 95% of the taxes paid to the government are by the top 10% of the income earners. That hardly sounds like middle america supporting the rich.
So I’m trying to see out what tax bracket I’m in I’m marred make the most in our household and I will be going from $15hr to $23hr but my hours will be cut to part time. Would I stay in the same tax bracket?
Tarah,
Your answer depends on if you are going from W2 payment to 1099 payment (your own business, which pays far higher taxes) …
For many years I am used to having about 20% taken out of my paycheck. At my new job they use a payroll company that is taking 23.5% and this seemed like too much. when I inquired thay said it is because they base my deductions on what I would make in a year. This doesn’t make sense to me as I do not have a fixed amount that I make. Any thoughts?
I retired at my full retirement age of 66. I am now working part-time. I have asked these questions repeatedly and keep getting conflicting answers. My part-time job is withholding the usual amounts. Do I add my social security wages, any 401K distribution and earnings from my job in order to figure my tax rate for the year? Is social security taxed or not? If I am only taxed on the 401K distribution and my new job, that makes a huge difference to me.
So, if I monitor my YTD Federal Tax Witholding throughout my 2011 paystubs, and I hit my total tax amount due, I can potentially ask my employer to stop deducting any Federal Witholdings… is that correct?
What about Social Security, Medicare, any other witholdings? Are those factors included in this table? Or do will those still need to be deducted from my paycheck for the remainder of the year in order to avoid owing in the beginning of 2012?
The only way to adjust your withholding is by filling out a new W-4, that’s how you ask.
They are not included on this table.