Tax Rates
|
|||
| 10% | 0 to $8,500 | ||
| 15% | $8,500 to $34,500 | ||
| 25% | $34,500 to $83,600 | ||
| 28% | $83,600 to $174,400 | ||
| 33% | $174,400 to $379,150 | ||
| 35% | Over $379,150 | ||
| 2011 Tax Rates – Married Jointly & Surviving Spouses – Standard Deduction $11,600 | |||
| 10% | 0 to $17,000 | ||
| 15% | $17,000 to $69,000 | ||
| 25% | $69,000 to $139,350 | ||
| 28% | $139,350 to $212,300 | ||
| 33% | $212,300 to $379,150 | ||
| 35% | Over $379,150 | ||
| 2011 Tax Rates – Married Filing Separately – Standard Deduction $5,800 | |||
| 10% | 0 to $8,500 | ||
| 15% | $8,500 to $34,500 | ||
| 25% | $34,500 to $69,675 | ||
| 28% | $69,675 to $106,150 | ||
| 33% | $106,150 to $189,575 | ||
| 35% | Over $189,575 | ||
| 2011 Tax Rates – Head of Household – Standard Deduction $8,500 | |||
| 10% | 0 to $12,150 | ||
| 15% | $12,150 to $46,250 | ||
| 25% | $46,250 to $119,400 | ||
| 28% | $119,400 to $193,350 | ||
| 33% | $193,350 to $379,150 | ||
| 35% | Over $379,150 | ||
| 2011 Tax Rates – Estates & Trusts | |||
| 15% | 0 to $2,300 | ||
| 25% | $2,300 to $5,450 | ||
| 28% | $5,450 to $8,300 | ||
| 33% | $8,300 to $11,350 | ||
| 35% | Over $11,350 | ||
| Social Security | 2011 Tax Rates |
| Social Security Tax Rate: Employers | 6.2% |
| Social Security Tax Rate: Employees | 4.2% |
| Social Security Tax Rate: Self-Employed | 10.4% |
| Maximum Taxable Earnings | $106,800 |
| Medicare Base Salary | Unlimited |
| Medicare Tax Rate | 1.45% |
| Miscellaneous | 2011 Tax Rates |
| Personal Exemption | $3,700 |
| Business expensing deduction: New Equipment | $2,000,000 |
| Business expensing deduction: Used Equipment and Software | $500,000 |
| Prior-year safe harbor for estimated taxes of higher-income | 110% of your 2010 tax liability |
| Standard mileage rate for business driving 1/1/2011 to 6/30/2011 | 51 cents |
| Standard mileage rate for business driving 7/1/2011 to 12/31/2011 | 55.5 cents |
| Standard mileage rate for medical/moving driving 1/1/2011 to 6/30/2011 | 19 cents |
| Standard mileage rate for medical/moving driving 7/1/2011 to 12/31/2011 | 23.5 cents |
| Standard mileage rate for charitable driving | 14 cents |
| Child Tax Credit | $1,000 |
| Unearned income maximum for children under 19 before kiddie tax applies | $950 |
| Maximum capital gains tax rate for taxpayers in the 10% or 15% bracket | 0% |
| Maximum capital gains tax rate for taxpayers above the 15% bracket | 15% |
| Capital gains tax rate for unrecaptured Sec. 1250 gains | 25% |
| Capital gains tax rate on collectibles | 28% |
| Maximum contribution for Traditional/Roth IRA | $5,000 if under age 50 $6,000 if 50 or older |
| Maximum employee contribution to SIMPLE IRA | $11,500 if under age 50 $14,000 if 50 or older |
| Maximum Contribution to SEP IRA | 25% of eligible compensation up to $49,000 |
| 401(k) maximum employee contribution limit | $16,500 if under age 50 $22,000 if 50 or older |
| Self-employed health insurance deduction | 100% |
| Estate tax exemption | $5,000,000 |
| Annual Exclusion for Gifts | $13,000 |
| Education | 2011 Tax Rates |
| American Opportunity Credit (Hope) | $2,500 |
| Lifetime Learning Credit | $2,000 |
| Student Loan Interest Deduction | $2,500 |
| Coverdell Education Savings Contribution | $2,000 |