Bible Money Matters

Christian personal finance

Menu
    • About
    • Archives
    • Contact
    • Close
  • Making Money
      • Popular Articles

        • 50 Ways To Make Money: Maximizing, Creating And Increasing Your Income
        • 10 Weird And Unconventional Ways To Make Money
        • Making Money With A Blog (e-Book)
        • 10 Places To Sell Or Trade Your Unused (Or Broken) Electronics
        • Ways To Make Extra Money Series: 20 More Income Generating Ideas From Our Readers
        • Making Side Income Can Help Blunt The Impact Of Becoming A One Income Family
        • Earn Cash Back With Discover it® Credit Card
      • Recent Articles – Making Money

        • Best Sites Like Fiverr To Make Money As A Freelancer
        • 13 Of The Best Independent Contractor Jobs
        • 25 Of The Best Gig Economy Jobs
        • How To Make Money Blogging: Turn A Blog Into A Business
      • Categories

        • Making Money
        • Investing
        • Retirement
        • Jobs & Work LIfe
        • Money
        • Income
    • Close
  • Saving Money
      • Popular Articles

        • 50 Easy Ways To Save Money Every Month
        • 10 Weird And Unconventional Ways To Save Money
        • 10 Practical Ways To Save Money And Increase Your Net Worth
        • How To Save Money On Just About All Of Your Regular Monthly Bills
        • Ways To Watch TV Without Paying An Arm And A Leg For Cable TV
        • Save Money On Your Hospital Bill - Just By Asking
      • Recent Articles – Saving Money

        • How To Save $100k In 7 Practical Steps
        • Stairs App Review: Save And Invest To Earn 4-6% Interest
        • Honey Review: Save Money Automatically When You Shop Online
        • 9 Convincing Reasons Why You Need An Emergency Fund
      • Categories

        • Saving Money
        • Frugality
        • Planning
        • Finance
        • Saving For Retirement
        • Savings Accounts
    • Close
  • Banking
      • Best Rates For 2019

        • Best Credit Cards
        • Best Savings Accounts
        • Best Mortgage Rates
        • Best CD Rates
        • Best Brokerages
        • Free Credit Scores
      • Recent Reviews

        • TradeStation Review: Commission Free Stock And ETF Trades
        • Firstrade Review: Commission Free Trades on Stocks, Crypto, And Options
        • Cadre Real Estate Investing Review: Commercial Real Estate Investing
        • Axos Self Directed Trading Review: Invest, Trade Stocks For Free
      • Categories

        • Bank & Software Reviews
        • Investing
        • Credit
        • Banking
        • Mortgage
        • Insurance
        • Family Budget
    • Close
  • Recommended
  • Video
    • Close

2009 Federal Income Tax Brackets: Official IRS Marginal Tax Rates

By Peter Anderson 1 Comment - The content of this website often contains affiliate links and I may be compensated if you buy through those links (at no cost to you!). Learn more about how we make money. Last edited January 16, 2010.

Share
Pin
Tweet
Share
0 Shares

This past week I’ve been getting all of my tax information together to make my final estimated tax payment for the one that’s due on January 15th. One thing I’ve realized during that time is that sometimes the tax information isn’t all that easy to find when you’re searching the IRS site. For example, if you’re looking to find what your marginal tax rate is, often you’ll end up in being referred to some obscure IRS .pdf document, that supposedly has the information you’re looking for, but when you open it, doesn’t. I thought I’d put out a quick post referencing the 2009 official IRS marginal tax rates for others out there looking for the information.

Official IRS Tax Rate Schedule Updates For Tax Year 2009

Here are the official IRS tax rate tables for the 2009 taxpaying season.

Tax BracketSingleMarried Filing Jointly
10% Bracket$0 – $8,350$0 – $16,700
15% Bracket$8,350 – $33,950$16,700 – $67,900
25% Bracket$33,950– $82,250$67,900 – $137,050
28% Bracket$82,250 – $171,550$137,050 – $208,850
33% Bracket$171,550 – $372,950$208,850 – $372,950
35% Bracket$372,950+$372,950+

Things that have changed from last year.  From IRS.gov:

  • New standard deduction: The new standard deduction is $11,400 for married couples filing a joint return (up $500), $5,700 for singles and married individuals filing separately (up $250) and $8,350 for heads of household (up $350). Nearly two out of three taxpayers take the standard deduction, rather than itemizing deductions, such as mortgage interest, charitable contributions and state and local taxes.
  • Personal exemption has increased: The value of each personal and dependency exemption, available to most taxpayers, is $3,650, up $150 from 2008.
  • Thresholds for the tax brackets have increased for each filing status: Tax-bracket thresholds increase for each filing status. For a married couple filing a joint return, for example, the taxable-income threshold separating the 15-percent bracket from the 25-percent bracket is $67,900, up from $65,100 in 2008.  This will help us as we’re just able to come in under the neew $67,900 threshold.  Phew.
  • Gift exclusion increases: The annual gift exclusion rises to $13,000, up from $12,000 in 2008.
  • IRA contribution limits remain the same:  IRA contribution limits have remained the same, with a limit of $5000 across account types.   (Roth, Traditional, etc)

Closing Thoughts

No matter what happens every year, one thing is for sure. As long as you’re making income, you will be paying taxes.  So if you’re going to be paying taxes, be sure to make the best of it.  Be organized for tax season, take the income tax deductions that are available to you.   Don’t forget about often forgotten tax credits like the home improvement tax credit, or deductions like the new car sales tax deduction. If you do, you’ll be leaving hundreds or even thousands of dollars on the table.

Are there tax credits or deductions that you think people should remember this year?  Are there tips you can give to be more organized about your taxes?  What do you think of the 2009 tax brackets?  Do you come out better because of them?

Related Posts

  • 2012 Federal Income Tax Brackets: IRS Marginal Tax Rates

    The 2012 tax rate tables are projected to remain essentially unchanged.A few rate income ranges and standard deductions will change slightly.

  • 2010 Federal Income Tax Brackets: Official IRS Marginal Tax Rates

    Two things are sure in life, death and taxes.  Tax season is coming up again, and if you're not dead - you'll be paying taxes!…

  • 2011 Federal Income Tax Brackets: IRS Marginal Tax Rates

    The 2011 tax year promises to be one where there will be some significant changes to the marginal tax brackets. What those changes exactly will…

Share
Pin
Tweet
Share
0 Shares
Last Edited: 16th January 2010 The content of biblemoneymatters.com is for general information purposes only and does not constitute professional advice. Visitors to biblemoneymatters.com should not act upon the content or information without first seeking appropriate professional advice. In accordance with the latest FTC guidelines, we declare that we have a financial relationship with every company mentioned on this site.

This article is about: Taxes, Tips

About Peter Anderson

Peter Anderson is a Christian, husband to his beautiful wife Maria, and father to his 2 children. He loves reading and writing about personal finance, and also enjoys a good board game every now and again. You can find out more about him on the about page. Don't forget to say hi on Pinterest, Twitter or Facebook!

Comments

    Share Your Thoughts: Cancel reply

  1. octaxgeek.com says

    Millions of people that are “making income” will not be paying taxes this year due to the slew of refundable credits: Additional Child Tax Credit, Earned Income Credit, Making Work Pay credit, First-Time Homebuyer Credit ($8,000!) and more. Millions will receive a refund of all of their federal withholding, plus thousands more. The Earned Income Credit was expanded this year for those with more than 2 children.

    Reply
Previous Post: Blueprint For How To Make Money With A Blog: Laying A Solid Foundation – Setting Up Your Site
Next Post: Important Tax Rules For The Self Employed: Payments Are Coming Due!
Discover Investment Platforms

Popular Posts

  • 21 Easy Ways To Earn Free Amazon Gift Cards
  • 10 Best Free Tax Filing Services And Software Online
  • 21 Apps That Pay You Real Money Fast
  • 17 TV Apps And Live TV Streaming Services To Watch TV Free
  • 30 Legit Online Jobs That Pay Well
  • 37 Easy Ways To Get Free Gift Cards
  • How To Get Free Stock
  • 40 Easy Ways To Get Free Money Fast
  • 21 Places To Read Free Books Online
  • 24 Legit Online Jobs
  • 17 Best Work From Home Jobs: A List Of Legit Online Jobs That Pay Well

Recent Posts

  • How To Save $100k In 7 Practical Steps
  • How to Save Money When Remodeling A Home
  • How To Hire A Contractor For Your Remodeling Project
  • Remembering 9/11 Years Later: Where Were You On That Fateful Day?
  • TradeStation Review: Commission Free Stock And ETF Trades
  • Firstrade Review: Commission Free Trades on Stocks, Crypto, And Options
  • Cadre Real Estate Investing Review: Commercial Real Estate Investing
  • Best Sites Like Fiverr To Make Money As A Freelancer
  • Axos Self Directed Trading Review: Invest, Trade Stocks For Free
  • 30 Quotes About Easter And Resurrection: He Is Risen!

Disclaimer

The information contained in BibleMoneyMatters.com is for general information or entertainment purposes only and does not constitute professional financial advice. Please contact an independent financial professional for advice regarding your specific situation.

In accordance with FTC guidelines, we state that we have a financial relationship with some of the companies mentioned in this website. This may include receiving access to free products and services for product and service reviews and giveaways.

Any references to third party products, rates, or websites are subject to change without notice. We do our best to maintain current information, but due to the rapidly changing environment, some information may have changed since it was published. Please do the appropriate research before participating in any third party offers.

Amazon and the Amazon logo are trademarks of Amazon.com, Inc. or its affiliates.

We respect your privacy: Privacy Policy.

Thanks for visiting!

Bible Money Matters - Seen On These Sites and more..
Bible Money Matters is a personal finance, entrepreneurship and investing community. Give more, save more and live more.

Copyright © 2023 · Bible Money Matters | Sitemap | Advertise | Privacy Policy