Re: 401A --> ?

"Heather" <HeatherRain@[EMAIL PROTECTED]
> wrote
> How/
> where can I see the brackets to determine what amount of 
> income moves
> me into the next higher bracket?

The Wikipedia site you gave appears accurate. The rates are 
also (1) in the IRS 1040 instructions for any given tax 
year; (2) at the IRS web site; just put in "tax rates" 
without the quotation marks in the IRS search engine; (3) 
available via googling for {"tax rates" 2008} E.g. this site 
came up when I googled: 
http://taxes.about.com/od/2008taxes/qt/2008_tax_rates.htm

> Once I know the brackets, how do I
> apply the logic?  Do the brackets apply to Line 43 of the 
> return
> "Taxable Income"?

Yes. I think the web site I give above explains the logic as 
does the Wiki site you gave. For example, suppose your 
taxable income was $33,000. Only $450 of this is taxed at 
25%. The rest is taxed at 10% and 15%, per the table. That 
calculator I gave before 
(http://dinkytown.com/java/Tax10402008.html)
is a good 
second check on any estimates you do.

AFAIC, no stupid questions exist, as long as one makes a 
reasonable effort to find the answer on his/her own, since 
this effort is part of the overall learning process. blah 
blah enough pedantry on pedantry. :-) 

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