Tax Brackets.

[carol b]

Do you know which tax bracket you are in? It helps to know that way you can be sure that your paying the correct amount.

When it comes time to file your income tax forms at the end of the fiscal year it makes a huge difference whether your paying them or their paying you.

TABLE 1 - Section 1(a) - Married Individuals Filing Joint Returns and Surviving
Spouses
If Taxable Income Is: The Tax Is:
Not over $17,000 10% of the taxable income
Over $17,000 but $1,700 plus 15% of

not over $69,000 the excess over $17,000

Over $69,000 but $9,500 plus 25% of

not over $139,350 the excess over $69,000

This is valid as of November of 2010 and for the year 2011. Do you believe these are inflation adjusted. Seems that its better to be poor these days. All I can say is it was great to have kids.

Now all we can count on is itemizing. We take what ever deductions that the law will allow.