taxe rates
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| 2011 Tax Rates - Single Taxpayers - Standard Deduction $5,800 | ||
| 10% | 0 – 8,500 | |
| 15% | 8,501 – 34,500 | |
| 25% | 34,501 – 83,600 | |
| 28% | 83,601 – 174,400 | |
| 33% | 174,401 – 379,150 | |
| 35% | Over 379,150 | |
| 2011 Tax Rates - Married Jointly & Surviving Spouses - Standard Deduction $11,600 | ||
| 10% | 0 – 17,000 | |
| 15% | 17,001 – 69,000 | |
| 25% | 69,001 – 139,350 | |
| 28% | 139,351 – 212,300 | |
| 33% | 212,301 – 379,150 | |
| 35% | Over 379,150 | |
| 2011 Tax Rates - Married Filing Separately - Standard Deduction $5,800 | ||
| 10% | 0 – 8,500 | |
| 15% | 8,501 – 34,500 | |
| 25% | 34,501 – 69,675 | |
| 28% | 69,676 – 106,150 | |
| 33% | 106,151 – 189,575 | |
| 35% | Over 189,575 | |
| 2011 Tax Rates - Head of Household - Standard Deduction $8,500 | ||
| 10% | 1 – 12,150 | |
| 15% | 12,151 – 46,250 | |
| 25% | 46,251 – 119,400 | |
| 28% | 119,401 – 193,350 | |
| 33% | 193,351 – 379,150 | |
| 35% | Over 379,150 | |
| 2011 Tax Rates - Estates & Trusts | ||
| 15% | 0 – 2,300 | |
| 25% | 2,300 – 5,450 | |
| 28% | 5,451 – 8,300 | |
| 33% | 8,301 – 11,350 | |
| 35% | Over 11,350 | |
| Miscellaneous 2011 Tax Rates | |
| Social Security Wage Base | $106,800 |
| Personal Exemption | $3,700 |
| Business equipment expensing deduction | $500,000 |
| Prior-year safe harbor for estimated taxes of higher income | 110% of your 2010 Tax liability |
| Standard mileage rates | |
|
55.5. cents |
|
14.0 cents |
|
23.5 cents |
| Child Tax Credit | $1,000 |
| Unearned income maximum for children before kiddie tax applies | $950 |
| Maximum capital gains tax rate for taxpayers in the 10% or 15% bracket (holding period 12 months) | 0% |
| Maximum capital gains tax rate for taxpayers above the 15% bracket (holding period 12 months) | 15% |
| Standard Deductions | |
| Maried Filing Joint | $11,600 |
| Maried Filing Separate | $5,800 |
| Single | $5,800 |
| Head of Household | $8,500 |
| Qualifying Widower | $11,600 |
| 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 (EMPLOYEE) | 25% of compensation up to $49,000 |
| Maximum Contribution to SEP IRA (SELF EMPLOYED) | 20& of 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% (deducted in Form 1040, page 1) |
| Estate tax exemption | $5,000,000 |
| Annual Exclusion for Gifts | $13,000 |