Income Tax Rates 2012

 

Filing Status and Income Tax Rates 2012

 

Definitions

Mortgage amount

Original or expected balance for your mortgage.

Interest rate

Annual interest rate for your mortgage. Interest rates are generally lower for shorter term mortgages.

Marginal tax rate

This is your combined state and federal tax rate. This is used to calculate your potential income tax savings by deducting your mortgage interest. You can use the table below to assist you in estimating your Federal tax rate for 2012.

Filing Status and Income Tax Rates 2012

Caution: Do not use these tax rate schedules to figure 2011 taxes. Use only to figure 2012 estimates.

Tax rate

Married filing jointly
or qualified widow(er)

Single

Head of household

Married filing separately

10%

$0 - 17,400

$0 - 8,700

$0 - $12,400

$0 - 8,700

15%

$17,400 - 70,700

$8,700 - 35,350

$12,400 - 47,350

$8,700 - 35,350

25%

$70,700 - 142,700

$35,350 - 85,650

$47,350 - 122,300

$35,350 - 71,350

28%

$142,700 - 217,450

$85,650 - 178,650

$122,300 - 198,050

$71,350 - 108,725

33%

$217,450 - 388,350

$178,650 - 388,350

$198,050 - 388,350

$108,725 - 194,175

35%

over $388,350

over $388,350

over $388,350

over $194,175

 

 

Monthly payment

Monthly principal and interest payment (PI). Both 30 year and 15 year mortgages are shown.

Total payments

Total of all monthly payments over the full term of the mortgage. Both 30 year and 15 year mortgages are shown.

Total interest

Total of all interest paid over the full term of the mortgage. Both 30 year and 15 year mortgages are shown.