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Tax Brackets - Tax Rates for 2012
These are up from 2011 tax rates again although most of us have no need to look beyond the second row down on each category.
For those who have the big bucks, the taxes are figured on an increasing scale, and the tax percentage goes up.
The increase in percentage scale stops at $388,350.00 a year.
It doesn't seem to address the people who are millionaires or billionaires on an ever increasing scale as it does for middle income people.
If you earn a billion dollars a year you certainly can afford to pay a healthier hunk of money in taxes. Again though the advantage goes to people who are earning an amount just under the bracket ceiling.
Good for them. They are getting to keep a bit more... unless you consider inflation and we all are getting hit so....
Again remember... "Death and Taxes"
| MARRIED
Iindividuals filing
Joint Returns and Surviving Spouses. |
| Up To: |
| $17,400.00 |
10% |
| $70,700.00 |
$1,740.00 plus 15% of the excess over $17,400.00 |
| $142,700.00 |
$9,735.00 plus 25% of the
excess over $70,700.00 |
| $217,450.00 |
$27,735.00 plus 28% of the
excess over $142,700.00 |
| $388,350.00 |
$48,665.00 plus 33% of the excess over $217,450.00 |
| More than $388,350.00 |
$105,062.00 plus 35% of the excess over $388,350.00 |
| Info from IRS |
SINGLE FILING Unmarried individuals
(Other than surviving spouses and heads of households)
|
| Up To: |
|
| $8,700.00 |
10% |
| $35,350.00 |
$870.00 plus 15% of the excess over $8,700.00 |
| $85,650.00 |
$4,867.50 plus 25% of the excess over 35,350.00 |
| $178,650.00 |
$17,442,50 plus 28% of the excess over $85,650.00 |
| $388,350.00 |
$43,482.50 plus 33% of the excess over $178.650.00 |
| Over $388,350.00 |
$112,683.50 plus 35% ofthe excess over $388,350.00 |
| Info from IRS |
SINGLE FILING as Head of Household
|
| Up To: |
|
| $12,400.00 |
10% |
| $47,350.00 |
$1,240.00 plus 15% of the excess over $12,400.00 |
| $122.300.00 |
$6,482.50 plus 25% of the excess over $47,350.00 |
| $198.050.00 |
$25,220.00 plus 28% of the excess over $122,300.00 |
| $388,350.00 |
$46,430.00 plus 33% of the excess over $198,050.00 |
| Over $388,350.00 |
$109,229.00 plus 35% of the excess over $388,350.00 |
| Info from IRS |
| MARRIED
Iindividuals filing
Joint Returns and Surviving Spouses. |
| Up To: |
| $17,400.00 |
10% |
| $70,700.00 |
$1,740.00 plus 15% of the excess over $17,400.00 |
| $142,700.00 |
$9,735.00 plus 25% of the
excess over $70,700.00 |
| $217,450.00 |
$27,735.00 plus 28% of the
excess over $142,700.00 |
| $388,350.00 |
$48,665.00 plus 33% of the excess over $217,450.00 |
| More than $388,350.00 |
$105,062.00 plus 35% of the excess over $388,350.00 |
| Info from IRS |
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