Taxable Income Over	But Not Over	The tax is:
$ 0	$15,100	10% of the amount over $0
$15,100	$61,300	$1,510.00 plus 15% of the amount over 15,100
$61,300	$123,700	$8,440.00 plus 25% of the amount over 61,300
$123,700	$188,450	$24,040.00 plus 28% of the amount over 123,700
$188,450	$336,550	$42,170.00 plus 33% of the amount over 188,450
$336,550	no limit	$91,043.00 plus 35% of the amount over 336,550

 

SCHEDULE Z: Heads of Households

2005

Taxable Income Over	But Not Over	The tax is:
$ 0	$10,450	10% of the amount over $0
$10,450	$39,800	$1,045 plus 15% of the amount over 10,450
$39,800	$102,800	$5,447.50 plus 25% of the amount over 39,800
$102,800	$166,450	$21,197.50 plus 28% of the amount over 102,800
$166,450	$326,450	$39,019.50 plus 33% of the amount over 166,450
$326,450	no limit	$91,819.50 plus 35% of the amount over 326,450

2006

Taxable Income Over	But Not Over	The tax is:
$ 0	$10,750	10% of the amount over $0
$10,750	$41,050	$1,075.00 plus 15% of the amount over 10,750
$41,050	$106,000	$5,620.00 plus 25% of the amount over 41,050
$106,000	$171,650	$21,857.50 plus 28% of the amount over 106,000
$171,650	$336,550	$40,239.50 plus 33% of the amount over 171,650
$336,550	no limit	$94,656.50 plus 35% of the amount over 336,550

 

INCOME TAX RATE SCHEDULES FOR USE BY ESTATES AND NONGRANTOR TRUSTS

2004

Taxable Income Over	But Not Over	lts tax is:	of the amount over-
$0	1,950	15%	$0
1,950	4,600	292.50 + 25%	1,950
4,600	7,000	955.00 + 28%	4,600
7,000	9,550	1,627.00 + 33%	7,000
9,550	......	2468.50 + 35%	9,550

 

Unified Transfer Tax Rate Schedule

 

Table A - Unified Rate Schedule For 2005

Column A	Column B	Column C	Column D
Taxable amount over	Taxable amount not over	Tax on amount in column A	Rate of Tax on excess over amount in column A Percent
$ 0	$ 10,000	$0	18
10,000	20,000	1,800	20
20,000	40,000	3,800	22
40,000	60,000	8,200	24
60,000	80,000	13,000	26
80,000	100,000	18,200	28
100,000	150,000	23,800	30
150,000	250,000	38,800	32
250,000	500,000	70,800	34
500,000	750,000	155,800	37
750,000	1,000,000	248,300	39
1,000,000	1,250,000	345,800	41
1,250,000	1,500,000	448,300	43
1,500,000	2,000,000	555,800	45
2,000,000	.................	780,800	47

 

Federal Taxes

Self - Employment Taxes

A tax of 15.3% is imposed on net earnings from self-employment. The rate consists of a 12.4% component for old-age, survivors, and disability insurance (OASDI) and a 2.9% component for medicare. The OASDI rate (12.4%) applies to net earnings within the OASDI earnings base, which is $94,200 for 2006 and $90,000 for 2005. The Medicare rate (2.9%) applies to all net earnings since there is no limit on the amount of earnings subject to the Medicare portion of the tax.

Social Security Taxes

Social Security, Hospital Insurance. A combined tax rate of 7.65% (6.2% for old age, survivors, and disability insurance (OASDI) and 1.45% for hospital insurance (Medicare)) is imposed on both employer and employee. The OASDI rate (6.2%) applies to wages within the OASDI wage base, which is $94,200 for 2006 and $90,000 for 2005. The Medicare rate (1.45%) applies to all wages since there is no limit on the amount of earnings subject to the Medicare portion of the tax. Medicare Payments.

Medicare Part B premiums $88.50 per month for 2006, the cost will go up 10% for each full 12-month. That you could have had Part B but didn't sign up for, except in special cases. You might have to pay this extra amount as long as you have Part B. You also pay a $110 Part B deductible each year before Medicare starts to pay its share. For more information you can link to the following site www.socialsecurity.gov.