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Tax Rates

   
2010 Tax Rates 2009 Tax Rates 2008 Tax Rates

2011 Tax Rates Schedule X - Single

 

If taxable income is over

But not over

The tax is

 

$0

$8,500

10% of the taxable amount

 

$8,500

$34,500

$850 plus 15% of the amount over $8,500

 

$34,500

$83,600

$4,750 plus 25% of the amount over $34,500

 

$83,600

$174,400

$17,025.25 plus 28% of the amount over $83,600

 

$174,400

$379,150

$42,449 plus 33% of the amount over $174,400

 

$379,150

no limit

$110,016.50 plus 35% of the amount over $379,150

 

2011 Tax Rates Schedule Y-1 - Married Filing Jointly or Qualifying Widow(er)

 

If taxable income is over

But not over

The tax is

 

$0

$17,000

10% of the taxable amount

 

$17,000

$69,000

$1,700 plus 15% of the amount over $17,000

 

$69,000

$139,350

$9,500 plus 25% of the amount over $69,000

 

$139,350

$212,300

$27,087.50 plus 28% of the amount over $139,350

 

$212,300

$379,150

$47,513.50 plus 33% of the amount over $212,300

 

$379,150

no limit

$102,574 plus 35% of the amount over $379,150

 

2011 Tax Rates Schedule Y-2 - Married Filing Separately

 

If taxable income is over

But not over

The tax is

 

$0

$8,500

10% of the taxable amount

 

$8,500

$34,500

$850 plus 15% of the amount over $8,500

 

$34,500

$69,675

$4,750 plus 25% of the amount over $34,500

 

$69,675

$106,150

$13,543.75 plus 28% of the amount over $69,675

 

$106,150

$189,575

$23,756.75 plus 33% of the amount over $106,150

 

$189,575

no limit

$51,287 plus 35% of the amount over $189,575

 

2011 Tax Rates Schedule Z - Head of Household

 

If taxable income is over

But not over

The tax is

 

$0

$12,150

10% of the taxable amount

 

$12,150

$46,250

$1,215 plus 15% of the amount over $12,150

 

$46,250

$119,400

$6,330 plus 25% of the amount over $46,250

 

$119,400

$193,350

$24,617.50 plus 28% of the amount over $119,400

 

$193,350

$379,150

$45,323.50 plus 33% of the amount over $193,350

 

$379,150

no limit

$106,637.50 plus 35% of the amount over $379,150

 

2011 Tax Rates Estates & Trusts

 

If taxable income is over

But not over

The tax is

 

$0

$2,300

15%

 

$2,300

$5,450

$345 plus 25% of the amount over $2,300

 

$5,450

$8,300

$1,132.50 plus 28% of the amount over $5,450

 

$8,300

$11,350

$1,930.50 plus 33% of the amount over $8,300

 

$11,350

no limit

$2,937 plus 35% of the amount over $11,350

 

Social Security 2011 Tax Rates

 

Base Salary

$106,800

 

Social Security Tax Rate

4.2%

 

Maximum Social Security Tax

$4,485.60

 

Medicare Base Salary

Unlimited

 

Medicare Tax Rate

1.45%

 

Education 2011 Tax Rates

 

Hope Credit

$2,500

 

Lifetime Learning Credit

$2,000

 

Student Loan Interest Deduction

$2,500

 

Coverdell Education Savings Contribution

$2,000

 

Miscellaneous 2011 Tax Rates

 

Personal Exemption

$3,700

 

Business Equipment Expense Deduction (Used)

$500,000

 

Business Equipment Expense Deduction (New)

$2,000,000

 

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

110% of your 2010 tax liability

 

Standard mileage rate for business driving

51 cents

 

Standard mileage rate for medical/moving driving

19 cents

 

Standard mileage rate for charitable driving

14 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

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 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

 
 
     

 

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