How much can I save in taxes? - Northern Virginia Finance and Mortgage Calculators

The Economic Growth and Tax Relief Reconciliation Act of 2001 cut individual income tax rates for all brackets except the 15% rate. A sixth tax bracket of 10% was also added for the first $6,000 ($7,550 in 2006) of income for single taxpayers, $10,000 ($10,750 in 2006) for single parents and $12,000 ($15,100 in 2006) for married taxpayers. For 2006, the six income tax rates are 10%, 15%, 25%, 28%, 33% and 35%.

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