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 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% of the taxable amount $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 American Opportunity Tax 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 Before July 1st: 51 cents Standard mileage rate for medical/moving driving Before July 1st: 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 Maximum employee contribution to SIMPLE IRA $11,500 if under age 50 Maximum Contribution to SEP IRA 25% of compensation up to $49,000 401(k) maximum employee contribution limit $16,500 if under age 50 Self-employed health insurance deduction 100% Estate tax exemption $5,000,000 Annual Exclusion for Gifts $13,000
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