Income Tax Rates For 2009
May 22nd, 2010
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Question: I’m trying to determine/project my total federal taxes due for 2009 and adjust my withholdings accordingly.?
I’m trying to determine/project my total federal taxes due for 2009 and adjust my withholdings accordingly. Using the 2009 federal income tax rates (10% of income under $16,700, 15% of income over $16,700 and under $67,900, etc.), do I simply calculate the amount I owe and then subtract $400 due to the stimulus package tax cut?
Answer: Yes, but be sure to use the right table for your filing status. Looks like you’re using the married/joint return table – if so, then the MWP credit is $800.
Also, it’s on TAXABLE income so be sure to subtract your standard deduction and exemptions before calculating the tax.
New Zealand Cuts Income Taxes to Encourage Saving, Curb Debt
New Zealand will raise sales tax for the first time in two decades and lower income taxes to encourage household saving, aiming to reduce the economy’s “vulnerability” to concerns about sovereign debt.
Alistair Darling kicks off his Budget speech Today 22nd April 2009
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