|
2012 – Single |
||
|
If taxable income is over |
But Not Over |
The Tax is: |
|
$0 |
$8,350 |
10% of the taxable amount |
|
$8,350 |
$33,950 |
$835 plus 15% of the amount over $8,350 |
|
$33,950 |
$82,250 |
$4,675 plus 25% of the amount over $33,950 |
|
$82,250 |
$171,550 |
$16,750 plus 28% of the amount over $82,250 |
|
$171,550 |
$372,950 |
$41,754 plus 33% of the amount over $171,550 |
|
$372,950 |
no limit |
$108,216 plus 35% of the amount over $372,950 |
|
2012 - Married Filling Jointly |
||
|
If taxable income is over |
But Not Over |
The Tax is: |
|
$0 |
$16,700 |
10% of the taxable amount |
|
$16,700 |
$67,900 |
$1,670 plus 15% of the amount over $16,700 |
|
$67,900 |
$137,050 |
$9,350 plus 25% of the amount over $67,900 |
|
$137,050 |
$208,850 |
$26,637.50 plus 28% of the amount over $137,050 |
|
$208,850 |
$372,950 |
$46,741.50 plus 33% of the amount over $208,850 |
|
$372,950 |
no limit |
$100,894.50 plus 35% of the amount over $372,950 |
|
2012 – Married Filing Separately |
||
|
If taxable income is over |
But Not Over |
The Tax is: |
|
$0 |
$8,350 |
10% of the taxable amount |
|
$8,350 |
$33,950 |
$835 plus 15% of the amount over $8,350 |
|
$33,950 |
$68,525 |
$4,675 plus 25% of the amount over $33,950 |
|
$68,525 |
$104,425 |
$13,318.75 plus 28% of the amount over $68,525 |
|
$104,425 |
$186,475 |
$23,370.75 plus 33% of the amount over $104,425 |
|
$186,475 |
no limit |
$50,447.25 plus 35% of the amount over $186,475 |
|
2012 - Head of Household |
||
|
If taxable income is over |
But Not Over |
The Tax is: |
|
$0 |
$11,950 |
10% of the taxable amount |
|
$11,950 |
$45,500 |
$1,195.00 plus 15% of the amount over $11,950 |
|
$45,500 |
$117,450 |
$6,227.50 plus 25% of the amount over $45,500 |
|
$117,450 |
$190,200 |
$24,215 plus 28% of the amount over $117,450 |
|
$190,200 |
$372,950 |
$44,585 plus 33% of the amount over $190,200 |
|
$372,950 |
no limit |
$104,892 plus 35% of the amount over $372,950 |
|
Miscellaneous 2012 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 2008 tax liability |
|
Standard mileage rate for business driving |
55 cents |
|
Standard mileage rate for medical/moving driving |
24 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 |
|
Maximum employee contribution to SIMPLE IRA |
$10,500 if under age 50 |
|
Maximum Contribution to SEP IRA |
25% of compensation up to $49,000 |
|
401(k) maximum employee contribution limit |
$16,500 if under age 50 |
|
Self-employed health insurance deduction |
100% |
|
Estate tax exemption |
$3,500,000 |
|
Annual Exclusion for Gifts |
$13,000 |
