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Find Your Tax Brackets For 2010
What are the Tax Brackets for 2010?
The federal income tax in the United States is a progressive model where those individuals who earn higher wages are taxed at a higher percentage and vice versa. The tax brackets represent the divisions at which tax rates are implemented; these rates will change based on a given fiscal year in accordance with inflation and the macro-economic standing of the country. In essence, the tax brackets represent cutoff values for an earner’s taxable income—incomes past a certain point will be taxed at the next available tax bracket.
Additionally the tax rates will fluctuate for individuals who file separately or for those couples who file joint returns. The tax rate is dependent on income, meaning the amount of money an individual earns from his or her job; however, the tax rates will also fluctuate given the delivery of tax deductions, tax credits, and the status of the filing. Contact an income tax lawyer to review your case.
The following brackets will elucidate on the taxable incomes of American earners and the separate filing statuses that are present in the Federal income taxation system.
2010 Tax Brackets for single earners:
Single 2010 Tax Brackets
Taxable Income: Income Tax:
$0-$8,375 10% of the amount over $0
$8,375-$34,000 $837.50 plus 15% of the amount over $8,375
$34,000-$82,400 $4,681.25 plus 25% of the amount over $34,000
$82,400-$171,850 $16,781.25 plus 28% of the amount over $82,400
$171,850-$373,650 $41,827.25 plus 33% of the amount over $171,850
$373,650+ $108,421.25 plus 35% of the amount over $373,650
An individual’s tax bracket is dependent on two primary variables: the individual’s taxable income and their filing status. The options for filing status include the following: the individual will file a single return, a Married Filing Jointly return, a Married Filing Separately Return, a head of household, or a Qualifying Widower with Dependent Child.
The filing status is dependent upon the filer’s marital and family situation on the last day of the taxable year. If on the last day of the taxable year, multiple filing statuses apply, the individual will be allowed to choose between them.
2010 Tax brackets for individuals who file for Married Jointly:
Married Filing Jointly 2010 Tax Brackets
Taxable Income: Income Tax:
$0-$16,750 10% of the amount over $0
$16,750-$68,000 $1,675 plus 15% of the amount over $16,750
$68,000-$137,300 $9,362.50 plus 25% of the amount over $68,000
$137,300-$209,250 $26,687.50 plus 28% of the amount over $137,300
$209,250-$373,650 $46,833.50 plus 33% of the amount over $209,250
$373,650+ $101,085.50 plus 35% of the amount over $373,650
Tax Brackets for those who are Married but File Separately:
Married Filing Separately 2010 Tax Brackets
Taxable Income: Income Tax:
$0-$8,375 10% of the amount over $0
$8,375-$34,000 $837.50 plus 15% of the amount over $8,375
$34,000-$68,650 $4,681.25 plus 25% of the amount over $34,000
$68,650-$104,625 $13,343.75 plus 28% of the amount over $68,650
$104,625-$186,825 $23,416.75 plus 33% of the amount over $104,625
$186,825+ $50,542.75 plus 35% of the amount over $186,825
Tax Brackets for those who file as Head of Household:
Head of Household 2010 Tax Brackets
Taxable Income: Income Tax:
$0-$11,950 10% of the amount over $0
$11,950-$45,550 $1,195.00 plus 15% of the amount over $11,950
$45,550-$117,650 $6,235 plus 25% of the amount over $45,550
$117,650-$190,550 $24,260 plus 28% of the amount over $117,650
$190,550-$373,650 $44,672 plus 33% of the amount over $190,550
$373,650+ $105,095 35% of the amount over $373,650
All You Need To Know About Torn Claims
What is a Tort Claim?
• A tort claim is a legal filing made in response to a party (typically an individual) who is subjected to a wrongful act that did not include a breach violation. Torts are classified into five categories: negligent actions, strict liability, intentional torts, miscellaneous torts, and cases that revolve around product liability.
Life Expectancy
A Closer Look at the United States Life Expectancy
Life expectancy is the average number of years expected left to live in group of individuals who are born in the same year. These values can also be given based on the expected remaining years based on a given age instead of the expectancy when born (at the age of 0). This is often done to take infant mortality into account, which can greatly distort life expectancy averages, if the rate of infant mortality is high.
Because many mortalities specific to age have been reduced, the life expectancy in the United States has increased dramatically over the last century. In addition, fertility has decreased considerably in the population, leading to a rapidly aging population, which a higher percentage of individuals who are at least 65 years old.
As of 2011, the life expectancy of Americans is currently 78.37 years. The United States has the 50th longest life expectancy of its citizens out of 222 counties, being surpassed by many others including Japan, Italy, Canada, United Kingdom, France, Norway, and many others, all which have life expectancy rates over 80 years.
Most variations in life expectancy rates globally are due to differences in medical care, public health, and diet. However, in poorer nations and third world countries, a dramatically lower rate can result from mortality from disease, war and starvation. An example of this would be in South Africa, where life expectancy should be approximately 69.9 years but is instead measured to be around 41.5 years due to the prevalence of AIDS.
The average life expectancies among the majority of countries are no constant between men or women. Men typically have a lower life expectancy in comparison to women. Currently, men have an expectancy of 75.92 years while women have a life expectancy of 80.93 years.
Life expectancies have been growing significantly as more medical and technological advances have been made. From 1900 to 1902, the expectancy in the United States was 49.2 years (97.9 for men and 50.7 for women). This average increased by 10 years by 1930 and nearly another 10 by 1950. Since then, it has steadily increased up till today’s value.
While the life expectancy has grown considerably in the United States, this does not eliminate the fact that there are certain conditions that are more likely to affect an individual be the cause of death.
As of 2009, the 15 leading causes of death and the death rates according to the CDC were:
• Heart diseases or heart conditions: 598,607
• Malignant neoplasms (cancer): 568,668
• Chronic lower respiratory conditions: 137,082
• Cerebrovascular conditions: 128,603
• Unintentional injuries: 117,176
• Alzheimer’s disease: 78,889
• Diabetes Mellitus: 68,504
• Pneumonia or influenza:53,582
• Nephritis: 48714
• Suicide: 36,547
• Septicemia: 35,587
• Cirrhosis or chronic liver disease: 30,444
• Hypertension or hypertensive renal disease: 25,651
• Parkinson’s disease: 20,552
• Homicide: 16,591
Indemnity Insurance
Buy Car Insurance
What is Included When You Buy Car Insurance
In all states with the exception of three, having a care requires having some sort of car insurance. Because of this, it is important to understand just how to buy car insurance and what exactly is involved. Based on the state’s laws, it may be necessary to buy certain forms for coverage or it may be extremely beneficial to purchase certain optional coverage.
Before deciding to buy car insurance, it is important to consider many different factors such as
• What type of car is owned.
• An individual’s driving record
• The price that an individual is willing to pay
In order to buy car insurance, the company will create a policy due to these factors as well as what sort of coverage is desired. There are many different types of coverage available in a car insurance policy.
• Liability Coverage: Covers accidental property damages and bodily injury to others. This can include pain and suffering, medical costs, lost wages, and damaged cars or property. Furthermore, it will cover court costs and defense cost. The state usually sets a limit of necessary liability coverage, but additional coverage can be bought.
• Collision coverage covers damages that happen to the policy holder’s vehicle due to a collision with an object or another vehicle.
• Comprehensive coverage covers damage or loss to the insured vehicle due to things other than an auto accident, such as wind, hail, flood, fire, theft, or vandalism.
• Medical Coverage takes care of medical expenses caused by an auto collision regardless of whose fault the accident is.
• Personal Injury Protection coverage covers the insured driver medical expenses due to a car accident regardless of fault.
• Uninsured Motorist covers car's damages from an auto accident caused by a driver without liability insurance.
• Underinsured Motorist coverage handles car's damages from an auto accident caused by an individual without enough liability insurance.
• Rental Reimbursement coverage pays for a rental car that is needed if the covered car is damaged because of an auto accident.
It is important to note that to buy car insurance, a person must pick out the coverage he or she needs. Insurance policies will often combine many different types of coverage. The very first step to take to buy car insurance is picking the insurance that is right for a car is to understand that laws in the state. Doing so will make it clear just what is the minimum insurance required for the car.
It is a good idea to make a note that just because your state may not make it a law an individual to buy car insurance that is very extensive, extra coverage may be worth the expense. Contact a car accident lawyer to consult your case. The legal minimums may not provide an individual with the coverage need. It is important to carefully consider what to buy beyond these state minimums. Make sure to find the right balance having enough coverage and overpaying for a policy. This is the best way to buy car insurance.
Credit Insurance
Lenders to Speed Up Insurance Payments
The Federal Housing Administration (FHA) stated on Friday, September 21, that approved lenders need to expedite hazard insurance payments to struggling families affected by Hurricane Isaac in Louisiana and Mississippi.
On Friday, September 21, the FHA released a Mortgagee Letter that reiterated the important polices concerning the insurance handouts to homeowners trying to rebuild their damaged property after a natural disaster like a hurricane.
The Letter was released because the U.S. Department of Housing and Urban Development (HUD) had begun to notice that some lenders were using the insurance funds to pay off outstanding mortgage balances. These actions resulted in many homeowners failing to obtain the proper materials to rebuild their damaged homes and property.
The HUD encourages lenders to do the following after a natural disaster:
1. provide copies of the hazard insurance policies when homeowners request the information
2. quickly hand over the insurance claim funds to homeowners when a repair plan has been authorized
3. follow strict guidelines so the insurance claims are filed and settled quickly
Louisiana Senator Mary Landrieu stated the following about the policies under the FHA: “This ensures that the actions of several unscrupulous mortgage lenders after Katrina will not be repeated during recovery from Isaac. It is important that homeowners themselves receive their insurance proceeds so they can begin to rebuild their homes and lives impacted by this storm.”
The FHA also stresses the fact that lenders need to quickly release funds for personal property, temporary living quarters, and multiple other expenses. Unless the homeowner has signed a written consent, the lender cannot withhold the funds.
Carol Galante, the FHA’s Acting Commissioner, states, “FHA Lenders are always required to follow our guidance and, particularly following a devastating disaster like Hurricane Isaac, it is important that FDA take affirmative steps to ensure that is the case.”
Source: Department of Housing and Urban Development
Flood Insurance Rate Maps Undergoing Update