2011 Tax Rates - Single Taxpayers - Standard Deduction $5,800

2010 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