For example, suppose married taxpayers filing jointly
figure tax on $231,000.
For married couples filing jointly
, the 50 percent taxable figure applies if your combined income is between $32,000 and $44,000.
That's everything from filing jointly
to saving on estate taxes.
If we look at the federal tax rate tables found on page 14 of the November/December 2010 issue of this publication, we see that married couples filing jointly
pay a 28 percent income tax rate for income between $137,301 and $209,250.
The credit has increased for people with three or more children and for some married couples filing jointly
Gay and lesbian couples who have filed as domestic partners in Oregon will have the option a year from now of filing jointly
on their state income tax returns.
Married couples should compute tax liability filing jointly
and separately, to see which is more beneficial.
If you're filing jointly
, an AGI up to $150,000 will permit either or both working spouses to make full contributions.
To use it, taxpayers enter their Social Security number, filing status (such as single or married filing jointly
,) and the refund amount shown on their 2004 tax return.
The WFTRA extends the current 10% tax bracket for married filing jointly
(MFJ) and single taxpayers, the expanded 15% MFJ tax bracket and the MFJ standard deduction designed to eliminate previously existing marriage penalties.
Thus, to properly file, married gay couples should create a "dummy" federal form, as if they were filing jointly
on their federal return, for use as a worksheet.
In Tax Incentives for a Child's Education, the second paragraph on page 35, should read: The ability to contribute to an Education Savings Account is phased out for taxpayers filing jointly
with Adjusted Gross Income (AGI) between $190,000 and $220,000 while for those filing singly, the phase out AGI is between $95,000 and $110,000.