Xelindrya
Mommy's little YouTube Star!
Member since 8/05 14470 total posts
Name: Veronica
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Dumb question... where can one easily find the 2012 Tax brackets?
Sorry either they are nicely hidden or not meant to be easily viewed quickly from work.
Just wondering where I fall.
Hubby got a raise (yeah us! ) we have no idea how MUCH of a raise since he gets enough bonuses that it throws us off. But his starting salary will be up at least 1k over what he finally pulled in at the end of 2011 (if THAT makes sense).
I expect no raise. worthless company I work for. Meh
But I work a second job and hope to stay on through the spring semester for AJ school. I mean that tutition is the main reason for working all on its own.
But I was wondering my meager little income at that minimum wage job, will it push me into a new tax bracket when added to my husband's increase payroll and my own standard 'day job'?
I know we won't know 'yet' but at least I can see where I was for 2012.
Sorry so long (easier to type a thought than search the web some days) can anyone point me in the right direction?
Oh and needless to say we are below $100k.
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jambalady
Is it summer yet?
Member since 8/06 7392 total posts
Name: Holly
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Re: Dumb question... where can one easily find the 2012 Tax brackets?
bankrate.com has them
http://www.bankrate.com/finance/taxes/2012-tax-bracket-rates.aspx
also, keep in mind that tax rates are incremental, so if the bracket for 15% is up to $35,000 and then the next bracket is 25%, it does not mean that if you make $36,000, you pay 25% on $36,000.
It means you pay 15% on the first $35,000, and then 25% on the additional $1,000.
(there is a lower bracket, but just giving the math for simplicity sake)
ETA: Sorry, I posted the 2012 tax brackets, but as I understand it, essentially, everything stays the same unless you are in the highest bracket.
Rates on Ordinary Income: For most individuals, the federal income tax rates for 2013 will be the same as last year: 10%, 15%, 25%, 28%, 33%, and 35%. However, the maximum rate for higher-income folks increases to 39.6% (up from 35%). This change only affects singles with taxable income above $400,000, married joint-filing couples with income above $450,000, heads of households with income above $425,000, and married individuals who file separate returns with income above $225,000.
Message edited 1/3/2013 4:50:44 PM.
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