Wednesday, August 22, 2007

Tax Brackets for 2007

Just found the 2007 tax brackets to give you an idea of what you'll be looking at when you file in 4 months.

Taxable Income Only:




Marginal Tax RateSingleMarried Filing Joint
 10% $0-$7,825 $0-$15,650
 15% $7,826-$31,850 $15,651-$63,700
 25% $31,851-$77,100 $63,701-$128,500
 28% $77,101-$160,850 $128,501-$195,850
 33% $160,851-$349,700 $195,851-$349,700
 35% > $349,700 > $349,700


Luckily for me, not much is going to change. Whether filing jointly (not till tax season 09!) or single it would put my fiancee and I in the same bracket. But as you can see, for some filing jointly would actually bump you up to the next bracket due to the low cutoffs for that category, where's the love?

Got the tax brackets from IRS.gov.

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