The easiest way is to access the IRS tax rate schedules
and apply the applicable income tax rate to the income amount.
User-friendly tax rate schedules
, facts, figures and assorted data make this time-saving section a handy companion.
The spreadsheet allows planners to choose between two possible tax rate schedules
for individual taxpayers (any determination of whether a Roth conversion is advisable for a particular person must take into account all of that person's particular facts and circumstances).
Income tax before credits--This amount consisted of the tax liability on taxable income, computed by using the tax tables, tax rate schedules
, Schedule D Tax worksheet, foreign-earned income tax worksheet, Schedule J, or Form 8615, plus Form (s) 8814, any additional taxes from Form 4972, and the alternative minimum tax.
Given some rough knowledge of how people in various income groups live today, the data presented will show what kind of tax burden those people would have faced given the higher or lower and more or less progressive tax rate schedules
of past years.
These estates and individuals may use 2003 Schedule D to figure their 2002 tax if they modify the computation to reflect the use of the applicable 2002 tax rate schedules
or tax table.
A detailed Contents list and thorough Index make it easy to locate topics, and there are numerous usable sample tax forms, tables, and tax rate schedules
The SEIT retains personal exemptions, the standard deduction, some itemized deductions and graduated tax rate schedules
ranging from 16 to 55 percent.
Individual Tax Rate Schedules
Status Rate (%) 1994 Brackets 1995 Brackets (Estimated(*)) Married 15 $0-38,000 $0-39,000 Filing 28 38,001-91,850 39,001-94,250 Jointly 31 91,851-140,000 94,251-143,600 36 140,001-250,000 143,601-256-500 39.
In fact, under the tax rate schedules
that applied prior to 1988, married couples earning unequal amounts of income were almost always better off filing a joint return.
Second, the tax rate schedules
used to compute quarterly estimated taxes do not always fully reflect changes in liabilities.
2006 CALIFORNIA TAX RATE SCHEDULES
SCHEDULE X SINGLE OR MARRIED FILING SEPARATE TAXPAYERS IF THE TAXABLE INCOME IS COMPUTED TAX IS OVER BUT NOT OVER OF AMOUNT OVER $0 $6,622 $0.