2012 Federal Individual Income Tax Rates

Filing Status: Married Filing Jointly and Surviving Spouse

If Taxable Income Is: The Tax Is:
Not Over $17,400 10% of the taxable income
Over $17,400 but not over $70,700 $1,740 plus 15% of the excess over $17,400
Over $70,700 but not over $142,700 $9,735 plus 25% of the excess over $70,700
Over $142,700 but not over $217,450 $27,735 plus 28% of the excess over $142,700
Over $217,450 but not over $388,350 $48,665 plus 33% of the excess over $217,450
Over $388,350 $105, 062 plus 35% of the excess over $388,350

Filing Status: Head of Household

If Taxable Income Is: The Tax Is:
Not Over $12,400 10% of the taxable income
Over $12,400 but not over $47,350 $1,240 plus 15% of the excess over $12,400
Over $47,350 but not over $122,300 $6,482.50 plus 25% of the excess over $47,350
Over $122,300 but not over $198,050 $25,220 plus 28% of the excess over $122,300
Over $198,050 but not over $388,350 $46,430 plus 33% of the excess over $198,050
Over $388,350 $109, 229 plus 35% of the excess over $388,350

Filing Status: Unmarried Individual (Other than Surviving Spouses and Heads of Households)

If Taxable Income Is: The Tax Is:
Not Over $8,700 10% of the taxable income
Over $8,700 but not over $35,350 $870 plus 15% of the excess over $8,700
Over $35,350 but not over $85,650 $4,867.50 plus 25% of the excess over $35,350
Over $85,650 but not over $178,650 $17,442.50 plus 28% of the excess over $85,650
Over $178,650 but not over $388,350 $43,482.50 plus 33% of the excess over $178,650
Over $388,350 $112,683.50 plus 35% of the excess over $388,350

Filing Status: Married Individual Filing Separate

If Taxable Income Is: The Tax Is:
Not Over $8,700 10% of the taxable income
Over $8,700 but not over $35,350 $870 plus 15% of the excess over $8,700
Over $35,350 but not over $71,350 $4,867.50 plus 25% of the excess over $35,350
Over $71,350 but not over $108,725 $13,867.50 plus 28% of the excess over $71,350
Over $108,725 but not over $194,175 $24,332.50 plus 33% of the excess over $108,725
Over $194,175 $52,531 plus 35% of the excess over $194,175

 

 

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About Baljeet Singh CPA
With over 16 years of overall professional career, Mr. Singh is extensively experienced in US corporate, partnership and individual tax planning, compliance, multistate tax returns filings with international reporting. Mr. Singh also has experience in audit, review, compilation, financials statements preparation and analysis. Prior to current firm, Mr. Singh led accounts and finance department in an e-commerce company and also, gained enriched experience of working in a Public Accounting Firm in New Delhi, India for many years. Baljeet Singh is a graduate with major in Accounting from University of Delhi, India and Chartered Accountant from the Institute of Chartered Accountants of India. He is a Certified Public Accountant licensed in the State of California and New Jersey. Membeships  The Institute of Chartered Accountants of India, Fellow Member  New Jersey Society of CPA’s  Sikh American Chamber of Commerce, New Jersey  Asian Indian Chamber of Commerce, New Jersey Practice Areas  Tax Compliance  Tax Planning  Entity Incorporation & Structuring  Accounting  Audits and Assurance  Consulting Services He can be reached at: 33 Wood Avenue South, Suite 220 Iselin, NJ 08830 Tel: 408.571.8095 Email: baljeetsinghcpa@gmail.com

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