Marginal tax rate
Is there a report in Proseries that will tell me the clients marginal tax rate? The YOY schedule shows the effective rate which is informative but not the margianl rate.
Is there a report in Proseries that will tell me the clients marginal tax rate? The YOY schedule shows the effective rate which is informative but not the margianl rate.
Below are the marginal tax brackets for 2009. Source: Internal Revenue Service, Revenue Procedure 2008-66 (pdf).
Single Filing Status
(Tax Rate Schedule X)
* 10% on income between $0 and $8,350
* 15% on the income between $8,350 and $33,950; plus $835
* 25% on the income between $33,950 and $82,250; plus $4,675
* 28% on the income between $82,250 and $171,550; plus $16,750
* 33% on the income between $171,550 and $372,950; plus $41,754
* 35% on the income over $372,950; plus $108,216
Married Filing Jointly or Qualifying Widow(er) Filing Status
(Tax Rate Schedule Y-1)
* 10% on the income between $0 and $16,700
* 15% on the income between $16,700 and $67,900; plus $1,670
* 25% on the income between $67,900 and $137,050; plus $9,350
* 28% on the income between $137,050 and $208,850; plus $26,637.50
* 33% on the income between $208,850 and $372,950; plus $46,741.50
* 35% on the income over $372,950; plus $100,894.50
Married Filing Separately Filing Status
(Tax Rate Schedule Y-2)
* 10% on the income between $0 and $8,350
* 15% on the income between $8,350 and $33,950; plus $835
* 25% on the income between $33,950 and $68,525; plus $4,675
* 28% on the income between $68,525 and $104,425; plus $13,318.75
* 33% on the income between $104,425 and $186,475; plus $23,370.75
* 35% on the income over $186,475; plus $50,447.25
Head of Household Filing Status
(Tax Rate Schedule Z)
* 10% on the income between $0 and $11,950
* 15% on the income between $11,950 and $45,500; plus $1,195
* 25% on the income between $45,500 and $117,450; plus $6,227.50
* 28% on the income between $117,450 and $190,200; plus $24,215
* 33% on the income between $190,200 and $372,950; plus $44,585
* 35% on the income over $372,950; plus $104,892.50
How Marginal Tax Rates are Used
Individuals can use the tax rate schedules in a number of ways to help plan their finances. You can use these tax rates to figure out how much tax you will pay on extra income you earn. For a taxpayer in the 25% tax bracket, extra income will be taxed at that rate until the taxpayer reaches the next tax bracket. Alternatively, you can use these tax rates to figure out how much tax you will save by increasing your deductions. For a taxpayer in the 28% tax bracket will save 28 cents in federal tax for every dollar spent on a tax-deductible expense, such as mortgage interest or charity.

Tax2009,
If you're gonna wait 18 months to respond, you should at least answer the poor guy's question.
The 5-year Tax History Report shows the taxpayer's marginal tax rate for all 5 years, if you have all the years on file. I have also modified my Client Letter to include the marginal tax rate.
Additionally, you might want to consider if AMT plays a role in the marginal rate...

Thanks everyone, just wanted a simple reference point and I knew it was on one of the reports...and yes, I figured it out about 2 1/2 months ago that is was on the 5 yr history rpt.