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Teri Pacitto DRE#00997649

What's Your Tax Bracket?

I had a discussion yesterday with one of my clients who asked how they find out what their tax bracket is. While I was talking to them, I googled the question and found it for them.

I find as long as my clients call me for any question, I am doing my job for them. Being a rescource for my clients is what I have done since 1988.

2009 Federal Tax Rate Schedules

Note: These tax rate schedules are provided so that you can compute your federal estimated income tax for 2007. To compute your actual income tax, please see the instructions for 2007 Form 1040, 1040A, or 1040EZ as appropriate when they are available.

Schedule X - Single

If taxable income is over--But not over--The tax is:
$0 $7,825 10% of the amount over $0
$7,825 $31,850 $782.50 plus 15% of the amount over 7,825
$31,850 $77,100 $4,386.25 plus 25% of the amount over 31,850
$77,100 $160,850 $15,698.75 plus 28% of the amount over 77,100
$160,850 $349,700 $39,148.75 plus 33% of the amount over 160,850
$349,700 no limit $101,469.25 plus 35% of the amount over 349,700

Schedule Y-1 - Married Filing Jointly or Qualifying Widow(er)

If taxable income is over--But not over--The tax is:
$0 $15,650 10% of the amount over $0
$15,650 $63,700 $1,565.00 plus 15% of the amount over 15,650
$63,700 $128,500 $8,772.50 plus 25% of the amount over 63,700
$128,500 $195,850 $24,972.50 plus 28% of the amount over 128,500
$195,850 $349,700 $43,830.50 plus 33% of the amount over 195,850
$349,700 no limit $94,601.00 plus 35% of the amount over 349,700

Schedule Y-2 - Married Filing Separately

If taxable income is over--But not over--The tax is:
$0 $7,825 10% of the amount over $0
$7,825 $31,850 $782.50 plus 15% of the amount over 7,825
$31,850 $64,250 $4,386.25 plus 25% of the amount over 31,850
$64,250 $97,925 $12,486.25 plus 28% of the amount over 64,250
$97,925 $174,850 $21,915.25 plus 33% of the amount over 97,925
$174,850 no limit $47,300.50 plus 35% of the amount over 174,850

Schedule Z - Head of Household

If taxable income is over--But not over--The tax is:
$0 $11,200 10% of the amount over $0
$11,200 $42,650 $1,120.00 plus 15% of the amount over 11,200
$42,650 $110,100 $5,837.50 plus 25% of the amount over 42,650
$110,100 $178,350 $22,700.00 plus 28% of the amount over 110,100
$178,350 $349,700 $41,810.00 plus 33% of the amount over 178,350
$349,700 no limit $98,355.50 plus 35% of the amount over 349,700

Reviewed 25-NOV-2007

Page Last Reviewed or Updated: January 07, 2009

March 2009 Median Home Prices for California Real Estate

Calif. median home price - March 09: $253,040 (Source: C.A.R.)
Calif. highest median home price by C.A.R. region February 09: Santa Barbara So. Coast $825,000 (Source: C.A.R.)
Calif. lowest median home price by C.A.R. region February 09: High Desert $114,670 (Source: C.A.R.)
Calif. First-time Buyer Affordability Index - Fourth Quarter 08: 59 percent (Source: C.A.R.)
Mortgage rates - week ending 4/23/09 30-yr. fixed: 4.8% Fees/points: 0.7% 15-yr. fixed: 4.48% Fees/points: 0.7% 1-yr. adjustable: 4.82% Fees/points: 0.4% (Source: Freddie Mac)

San Fernando Valley California March 2009 Median Home Prices

County/City/Area March 2009 March 2008 Y-T-Y % Change
San Fernando Valley Selected Areas
San Fernando Valley $317,000.00 $442,000.00 -28.3%
West San Fernando Valley $345,000.00 $439,000.00 -21.4%
Northeast San Fernando Valley $260,000.00 $439,500.00 -40.8%
Southeast San Fernando Valley $360,000.00 $523,750.00 -31.3%

Median home prices contained in this chart were generated from DataQuick Information Systems. The price statistics are derived from all types of home sales -- new and existing, condos and single-family. Movements in sales prices should not be interpreted as changes in the cost of a standard home. Median prices can be influenced by changes in cost, as well as changes in the characteristics and size of homes sold. Due to the low sales volume in some cities or areas, median price changes may exhibit unusual fluctuation. N.A. = Not available.

Conejo Valley Real Estate Market as of March 1, 2009

Search Criteria
Property Type Residential Areas Westlake, Newbury Park, Thousand Oaks West, Thousand Oaks East, Agoura Counties Los Angeles, Ventura Statuses Active, Contingent-1st Right, Contingent-Back up, Pending, Sold (3/1/2009 or after)
Listings per Status
Minimum, Average, Maximum
Days On Market Analysis
Listing Price\Selling Price

Homebuyer Tax Credit

8,000 Home Buyer Tax Credit at a Glance

The information on this page pertains to the American Recovery and Reinvestment Act of 2009.

  • The tax credit is for first-time home buyers only. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase.
  • The tax credit does not have to be repaid.
  • The tax credit is equal to 10 percent of the home's purchase price up to a maximum of $8,000.
  • The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.
  • Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.