An Important Link To The 2009 Federal Tax Brackets

The attached link discusses many very important tax related topics. It lists the updated 2009 tax brackets and the different income levels that apply to each bracket.

*Note: When looking at the tax brackets, the income levels specified for each bracket are taxed at their corresponding rates to the left of the income amount. For example, if your income for the year is $50,000, amd you are filing single, the first $8,350 would be taxed at 10% per the first income tax bracket level, the rest of your income up to $33,950 would be taxes at 15%, and the remainder of your income up to the $50,000 amount would be taxed at 25%.

Listed on this website are the tax brackets for tax payers filing single, married filing jointly, and married filing seperately. This gives you the basic idea of what tax bracket you fall into so you can begin to understand the tax preparation process.