HOW MUCH WILL I PAY?
Filing status
Qualifying Widow(er) with Dependent Child – your spouse died within the past two years, you have a dependent child, you have not remarried, and you provided over half of the cost of keeping up a home the past year
Work across the table to find out how much you will owe:
2004 Tax Rate Schedule – Status: Qualifying Widow(er)
If taxable income is over |
but less than |
your tax is |
plus |
of the amount over
|
$0 |
$14,300 |
$0 |
10% |
$0 |
14,300 |
58,100 |
1,430.00 |
15% |
14,300 |
58,100 |
117,250 |
8,000.00 |
25% |
58,100 |
117,250 |
178,650 |
22,787.50 |
28% |
117,250 |
178,650 |
319,100 |
39,979.50 |
33% |
178,650 |
319,100 |
----- |
86,328.00 |
35% |
319,100 |
Example:
$20,000 income = $1,430.00 + 15% of (20,000-14,300) =
$2,285 tax
The different sections on the table are called “tax brackets.” A tax bracket sets what percent of your income you pay in taxes. The more money you make, the higher the percentage you pay.
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