Tax Rates

2011 Tax Rates - Single Taxpayers - Standard Deduction $5,700                     2010 Tax Rates

10%

0 to $8,375

15%

$8,375 to $34,000

25%

$34,000 to $82,400

28%

$82,400 to $171,850

33%

$171,850 to $373,650

35%

Over $373,650

2010 Tax Rates - Married Jointly & Surviving Spouses - Standard Deduction $11,400

10%

0 to $16,750

15%

$16,750 to $68,000

25%

$68,000 to $137,300

28%

$137,300 to $209,250

33%

$209,250 to $373,650

35%

Over $373,650

2010 Tax Rates - Married Filing Separately - Standard Deduction $5,700

10%

0 to $8,375

15%

$8,375 to $34,000

25%

$34,000 to $68,650

28%

$68,650 to $104,625

33%

$104,625 to $186,825

35%

Over $186,825

2010 Tax Rates - Head of Household - Standard Deduction $8,400

10%

0 to $11,950

15%

$11,950 to $45,550

25%

$45,550 to $117,650

28%

$117,650 to $190,550

33%

$190,550 to $373,650

35%

Over $373,650

2010 Tax Rates - Estates & Trusts

15%

0 to $2,300

25%

$2,300 to $5,350

28%

$5,350 to $8,200

33%

$8,200 to $11,150

35%

Over $11,150


Social Security

2010 Tax Rates

Base Salary

$106,800

Social Security Tax Rate

6.2%

Maximum Social Security Tax

$6,621.60

Medicare Base Salary

Unlimited

Medicare Tax Rate

1.45%


Miscellaneous

2010 Tax Rates

Personal Exemption $3,650

Business equipment expensing deduction

$250,000

Prior-year safe harbor for estimated taxes of higher-income

110% of your 2009 tax liability

Standard mileage rate for business driving

50 cents

Standard mileage rate for medical/moving driving 16.5 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 Unlimited

Annual Exclusion for Gifts

$13,000


Education

2010 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


 

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