8/14/2019 2008 Tax Calculator

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2008 Tax Calculator Complete the yellow cells below, everything else is automatically calculated

I am: Single

Your total (gross) income $78,000Total deductions (personal and home related) $55,000 Social Security Tax

Your total taxable income is $23,000 Medicare and SUI/SDI

2007 Federal Income Thresholds and Tax Rates Taxes due based on State and Fed TaxAnnual Taxable Income Rate Federal Total Federal Income Tax

From To % Tax paid Total State Income Tax$0 $7,825 10.00% $783 Social Security + Medicare taxes

$7,825 $31,850 15.00% $2,276 Total Taxes$31,850 $77,100 25.00% $0 Total tax rate % on taxable income$77,100 $160,850 28.00% $0 Total tax rate % on gross income

$160,850 $349,700 33.00% $0 *Note, this assumes no AMT (Alternative Minimum

$349,700 $100,000,000 35.00% $0

2007 State Income Thresholds and Tax Rates

Annual Taxable Income Rate StateFrom To % Tax paid$0 $6,622 1.00% $66

$6,622 $15,698 2.00% $182$15,698 $24,776 4.00% $292$24,776 $34,394 6.00% $0$34,394 $43,467 8.00% $0$43,467 $1,000,000 9.30% $0

$1,000,000 $100,000,000 10.30% $0

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Married? 1 = yes 0

Schedule X - Single

But not over-- The tax is: Single

$0 $7,825 10% of the amount over $0 Married Filing Jointly

$7,825 $31,850 Married Filing Separately

$31,850 $77,100 Head of Household

$77,100 $160,850

$160,850 $349,700

$349,700 no limit

Schedule Y-1 — Married Filing Jointly or Qualifying Widow(er)

But not over-- The tax is:$0 $15,650 10% of the amount over $0

$15,650 $63,700$63,700 $128,500

$128,500 $195,850

$195,850 $349,700

$349,700 no limit

Schedule Y-2 — Married Filing Separately

But not over-- The tax is:$0 $7,825 10% of the amount over $0

$7,825 $31,850$31,850 $64,250

$64,250 $97,925

$97,925 $174,850

$174,850 no limit

But not over-- The tax is:

$0 $11,200 10% of the amount over $0

$11,200 $42,650

$42,650 $110,100

$110,100 $178,350

$178,350 $349,700

$349,700 no limit

SingleSingle 1 4836 4836 1

Married Filing Jointly 0 4836 0Married Filing Separately 0 4836 0

Head of Household 0 4836 0Married? 0 Total due 4836

The state tax table above is for California. If you live in another state, you will need to manually change the numborange cells above based on your state's income tax table. This should only take a few minutes to complete

If taxable income is over--

$782.50 plus 15% of theamount over 7,825$4,386.25 plus 25% of theamount over 31,850$15,698.75 plus 28% of theamount over 77,100$39,148.75 plus 33% of theamount over 160,850$101,469.25 plus 35% of theamount over 349,700

If taxable income is over--

, . p us o eamount over 15 650, . p us o eamount over 63 700$24,972.50 plus 28% of theamount over 128,500$43,830.50 plus 33% of theamount over 195,850$94,601.00 plus 35% of theamount over 349,700

If taxable income is over--

$782.50 plus 15% of theamount over 7,825$4,386.25 plus 25% of theamount over 31,850$12,486.25 plus 28% of theamount over 64,250$21,915.25 plus 33% of theamount over 97,925$47,300.50 plus 35% of theamount over 174,850

Schedule Z — Head of Household

If taxable income is over--

$1,120.00 plus 15% of theamount over 11,200$5,837.50 plus 25% of theamount over 42,650$22,700.00 plus 28% of theamount over 110,100$41,810.00 plus 33% of theamount over 178,350$98,355.50 plus 35% of theamount over 349,700

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