Wednesday, December 03, 2008
Current Federal Income Tax Rates: 2004 Tax Brackets

This material is intended to be a tool to help you understand taxes and mutual funds. Diamond Hill does not offer tax advice. For tax advice specific to your situation, consult a tax advisor.

 

2004 Taxable Income
2004 Marginal
Tax Rate

 

If income is Over
But not over

Single Filers

Top bracket
$319,100
--
35%
Fifth bracket
146,750
$319,100
33%
Fourth bracket
70,350
146,750
28%
Third bracket
29,050
70,350
25%
Second bracket
7,150
29,050
15%
First bracket
--
7,150
10%

Married Filing Jointly or Qualifying Widow(er)

Top bracket
$319,100
--
35%
Fifth bracket
178,650
319,100
33%
Fourth bracket
114,650
178,650
28%
Third bracket
58,100
114,650
25%
Second bracket
14,300
58,100
15%
First bracket
--
14,300
10%
Married Filing Separately
Top bracket
$159,550
--
35%
Fifth bracket
89,325
159,550
33%
Fourth bracket
58,625
89,325
28%
Third bracket
29,050
58,625
25%
Second bracket
7,150
29,050
15%
First bracket
--
7,150
10%
Head of Household
Top bracket
$319,100
--
35%
Fifth bracket
162,700
$319,100
33%
Fourth bracket
100,500
162,700
28%
Third bracket
38,900
100,500
25%
Second bracket
10,200
38,050
15%
First bracket
--
10,200
10%

Source: Internal Revenue Service

Please understand that Diamond Hill Funds and Diamond Hill Capital Management, Inc. do not provide legal or tax advice. You are encouraged to consult your legal or tax advisor for information specific to your situation.