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2011 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 | 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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