The third in series of infographics I am designing to illustrate the average federal tax rate applied to different salaries. This time I am graphing the average tax rates for married couples filing a joint tax return but with 2 incomes (same salary for each).
The difference between this graph and the couple with one income is that the the Social Security Tax cut off is now $213,600 (instead of $106,800), which increases their average SSN tax rate and their combined tax rates.
The income tax graph is created from the 2009 tax schedule for a couple filing jointly or qualifying widow(er):
which you can find from the IRS Tax Tables here while the information about the social security and medicare tax can be found here.
The second in series of infographics I am designing to illustrate the average federal tax rate applied to different salaries. This time I am graphing the average tax rates for a married couple filing a joint tax return. I am assuming one income so the main change from the tax rate for singles is the amount of the standard deduction, 2 exemptions and the change to the income tax schedule. (Again, this graphic does not include any payroll taxes paid by the employer.)
If you take a look at your W-2 form you can see that there are 3 different taxes applied to salaries and wages:
The income tax graph is created from the 2009 tax schedule for a couple filing jointly or qualifying widow(er):
which you can find from the IRS Tax Tables here while the information about the social security and medicare tax can be found here.
UPDATE 3/17/2010: I added more information about marginal tax rates by graphing the combined marginal tax rate line in the last graph. Also clarified that the employer-side of the payroll taxes are not included
The first of series of infographics I am designing to illustrate the average federal tax rate applied to different salaries. I want to show how the marginal income tax rates + social security and medicare taxes combine together for a single taxpayer up to $400,000. (This graphic does not include payroll taxes paid by the employer.)
A little background about this data. If you take a look at your W-2 form you can see that there are 3 different taxes applied to salaries and wages:
The income tax graph is created from the 2009 tax schedule for a single taxpayer:
which you can find from the IRS Tax Tables here while the information about the social security and medicare tax can be found here.
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