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2012 Tax Brackets for Single Individuals
(Schedule X)

If you are a single taxpayer, your tax brackets for 2012 have changed. These tax tables are designed for single individuals filing their 2012 income tax return, and represent significant changes from Tax Year 2011.

These tables are effective as of January 1, 2012, and do not take into account any types of tax credits or deducations, such as the standard deduction, mortgage deductions, etc.

 

 

 

 

Single

Joint Married

Married Filing Separate

Head of Household

Trusts

 

 
If Taxpayer's Income Is... Then Estimated Taxes Are...

Between

But Not Over

Base Tax

+ Rate

Of the Amount Over

$0
$8,925
$0
10%
$0
$8,925
$36,250
$892.50
15%
$8,925
$36,250
$87,850
$4,991.25
25%
$36,250
$87,850
$183,250
$17,891.25
28%
$87,850
$183,250
$398,350
$44,603.25
33%
$183,250
$398,350
$400,000
$115,586.25
35%
$398,350
$400,000
. . .
$116,239.65
39.6%
$400,000

 


 

 

Example #1

Mary Mingle, a single taxpayer, has 2012 TAXABLE INCOME of $83,000. Mary's income falls between:

Between

But Not Over

Base Tax

+ Rate

Of the Amount Over

$36,250
$87,850
$4,991.25
25%
$36,250

 

 

 

 

Mary Mingle's estimated taxes:

  = Base Tax + (Rate x Amount Over)
  = $4,991.25 + [.25 x ($83,000 - $36,250)] 
  = $4,991.25 + (.25 x $46,750)
  = $4,991.25 + $11,687.50
  = $16,678.75

Assuming she made the same amount last year, Mary's 2012 total tax dropped $101.25 from last year, using the 2011 income tax brackets for single taxpayers.

 


 

 

Example #2

Sam Sorem, a single taxpayer, has 2012 TAXABLE INCOME of $510,000. Mr. Sorem's income falls between:

Between

But Not Over

Base Tax

+ Rate

Of the Amount Over

$400,000
. . .
$116,239.65
39.6%
$400,000

 

 

 

 

Sam Sorem's Estimated Taxes

  = Base Tax + (Rate x Amount Over)
  = $116,239.65 + [.396 x ($510,000 - $400,000)] 
  = $116,239.65 + (.396 x $110,000)
  = $116,239.65 + $43,560.00
  = $159,799.65

Sam didn't fare as well in 2012 than the previous year, assuming that he earned the same income. His total tax increased $4,538.65 from his 2011 tax return, using the 2011 income tax brackets for single taxpayers.

 

These sample equations do not reflect standard deductions, mortgage deductions, or any other credits that may decrease your estimated taxable income. Use only for 2012 income taxes. The names mentioned in these samples are fictitious and not based on any individual. For illustrative and planning purposes only. For more information, or to review the official tax tables, please download Instructions for Form 1040.

 

 

 

 

 
 
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