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 If you're looking for the 2005 tax brackets you've come to the right place. You can use these tax rate schedules to calculate the incremental tax you pay on each additional dollar of taxable income for the tax year 2005.
For example, if you are in the 35% tax bracket, then for each additional dollar of income you had in 2005, you would owe $0.35 in federal income taxes. Keep in mind that how quickly you move up in a tax bracket has a lot to do with your filing status. You can see that in the rate schedules below. If you're married filing separately you hit the 33% tax bracket at $91,400 in 2005. If you're married filing jointly, your taxable income has to be over $182,800 before you hit 33%.
2005 Federal Income Tax Rate Schedules
Single - Rate Schedule X
| Taxable income is over - |
But not over - |
The tax is: |
Of the amount over - |
| $0 |
$7,300 |
$0 + 10% |
$0 |
| 7,300 |
29,700 |
730.00 + 15% |
7,300 |
| 29,700 |
71.950 |
4,090.00 + 25% |
29,700 |
| 71.950 |
150,150 |
14,652.50 + 28% |
71.950 |
| 150,150 |
326,450 |
36,548.50 + 33% |
150,150 |
| 326,450 |
- |
94,727.50 + 35% |
326,450 |
Married filling jointly or Qualifying widow(er) - Rate Schedule Y-1
| Taxable income is over - |
But not over - |
The tax is: |
Of the amount over - |
| $0 |
$14,600 |
$0 + 10% |
$0 |
| 14,600 |
59,400 |
1,460.00 + 15% |
14,600 |
| 59,400 |
119,950 |
8,180.00 + 25% |
59,400 |
| 119,950 |
182,800 |
23,317.50 + 28% |
119,950 |
| 182,800 |
326,450 |
40,915.50 + 33% |
182,800 |
| 326,450 |
- |
88,320.00 + 35% |
326,450 |
Married filing separately - Rate Schedule Y-2
| Taxable income is over - |
But not over - |
The tax is: |
Of the amount over - |
| $0 |
$7,300 |
$0 + 10% |
$0 |
| 7,300 |
29,700 |
730.00 + 15% |
7,300 |
| 29,700 |
59,975 |
4,090.00 + 25% |
29,700 |
| 59,975 |
91,400 |
11,658.75 + 28% |
59,975 |
| 91,400 |
163,225 |
20,457.75 + 33% |
91,400 |
| 163,225 |
- |
44,160.00 + 35% |
163,225 |
Head of Household - Rate Schedule Z
| Taxable income is over - |
But not over - |
The tax is: |
Of the amount over - |
| $0 |
$10,450 |
$0 + 10% |
$0 |
| 10,450 |
39,800 |
1,045.00 + 15% |
10,450 |
| 39,800 |
102,800 |
5,447.50 + 25% |
39,800 |
| 102,800 |
166,450 |
21,197.50 + 28% |
102,800 |
| 166,450 |
326,450 |
39,019.50 + 33% |
166,450 |
| 326,450 |
- |
91,819.50 + 35% |
326,450 |
Example Tax Calculation of Taxes Owed
We're going to provide you with an example tax calculation just to make sure you understand how to use the tax tables above. In this particular example, we're going to use a taxpayer filing as Married, filing jointly with taxable income of $150,000 in 2005.
By looking at the tables above we see that jointly filing married taxpayers should use Rate Schedule Y-1. In this particular example, we know that $150,000 is between $199,500 and $182,800 in the rate table we're using. That places this taxpayer in the 28% tax bracket.
Using that schedule we can calculate the federal income owed as follows:
- $23,317.50 + 28% x ($150,000 - $119,950)
- $23,317.50 + 28% x $30,050
- $23,317.50 + $8,414.00 = $31,731.50
So in this particular case the taxpayer owes $31,731.50 in federal income taxes in 2005.
About the Author - 2005 Tax Brackets
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