2010 Individual Income Taxes 
Federal - Form 1040
 

In determining your tax burden, it's necessary to know what tax bracket you are in.  Following are the federal tax rate schedules for 2010 for each of the filing statuses.  The amounts are Taxable Income, which is after subtracting deductions and exemptions.  Each bracket is taxed at its separate rate and the total tax is the sum of the taxes on each bracket.  When analyzing the tax hit for additional income, you would use your top marginal rate.  Unlike the other kinds of taxes, these are all adjusted each year to keep pace with inflation and prevent what's called "bracket creep," where taxpayers are pushed into a higher bracket just by receiving cost of living raises. 

Source: IRS Revenue Procedure 2009-50  (10/15/09)    
            

2010 Personal Exemptions

$3,650 per person and dependent  (same as for 2009)

These are no longer phased out for the evil rich, starting in 2010.

2010 Standard Deductions - (same as for 2009)

    Single: $5,700 + $1,400 if over 64 and/or blind

    Married Filing Jointly: $11,400 + $1,100 each if over 64 and/or blind

    Married Filing Separately: $5,700 + $1,100 if over 64 and/or blind

    Head of Household: $8,400 +$1,400 if over 64 and/or blind

    Dependents: Higher of $950 or earned income plus $300

Itemized Deductions are no longer phased out for the evil rich, as of 2010.

Ordinary Income Tax Rates

Married Filing Jointly