Tax Increase By Not Extending the Bush Tax Cuts

If the Bush Tax Cuts are not extended, everyone’s taxes will increase–and more than you might expect.  Although the new tax rate tables have not yet been established, we do know that the old (higher) rates will return.  The exact income cutoffs (modified for inflation, etc.) are still unknown, but the tax rate tables at the bottom of this post are reasonable estimates. 

Use the calculator at Bush Tax Cut Calculator to find out how much your taxes will increase.

Tax Bracket Married Filing Jointly Single
10% $0 – $16,750 $0 – $8,375
15% $16,750 – $68,000 $8,375 – $34,000
25% $68,000 – $137,300 $34,000 – $82,400
28% $137,300 – $208,250 $82,400 – $171,850
33% $208,250 – $373,650 $171,850 – $373,650
35% Over $373,650 Over $373,650

(Estimated) 2011:

Tax Bracket Married Filing Jointly Single
15% $0 – $70,040 $0 – $35,020
28% $70,040 – $141,419 $35,020 – $84,872
31% $141,419 – $215,528 $84,872 – $177,006
36% $215,528 – $384,860 $177,006 – $384,860
39.6% Over $384,860 Over $384,860
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *