| If you are looking for a simple way to figure out how | | | | subtract things like your mortgage interest and |
| much taxes you have to pay on your income, you | | | | charitable contributions. You also get to take a |
| have come to the right place. With a glance at the | | | | deduction for each person living in your house. |
| 2008 Federal Tax Tables, you can see how much | | | | When you are looking at the 2008 Federal Tax |
| taxes are owed on your taxable income depending on | | | | Tables, you have to apply your income to each range. |
| your filing status. This quick look can also help you | | | | That means part of your income will be taxed at one |
| figure out what the right filing status is for you. Check | | | | range and other parts will be taxed at a higher rate. |
| the links at the bottom to learn how to maximize your | | | | For example, if you were a single filer and had taxable |
| refund and file your taxes for free. | | | | income of $30,000 you would have to pay 10% on the |
| When you are calculating your taxes, you first have to | | | | first $8,025 then 15% on the amount from $8,025 up to |
| determine your taxable income. You start with your | | | | your total income of $30,000. |
| total income which shows on your W2. From that, you | | | | |