Our Favorite Links

Please click on image.

Online Advisor

Tax Tip of the Week

Taxes QuikGuide

Tax Rates

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

2011 Tax Rates - Social Security
6.2% Social Security Tax Rate: Employers
4.2% Social Security Tax Rate: Employees
10.4% Social Security Tax Rate: Self-Employed
$106,800 Maximum Taxable Earnings
Unlimited Medicare Base Salary
1.45% Medicare Tax Rate

2011 Tax Rates - Miscellaneous
$3,700 Personal Exemption
$2,000,000 Business expensing deduction: New Equipment
$500,000 Business expensing deduction: Used Equipment and Software
110% of your 2010 tax liability Prior-year safe harbor for estimated taxes of higher-income
51 cents Standard mileage rate for business driving
19 cents Standard mileage rate for medical/moving driving
14 cents Standard mileage rate for charitable driving
$1,000 Child Tax Credit
$950 Unearned income maximum for children under 19 before kiddie tax applies
0% Maximum capital gains tax rate for taxpayers in the 10% or 15% bracket
15% Maximum capital gains tax rate for taxpayers above the 15% bracket
25% Capital gains tax rate for unrecaptured Sec. 1250 gains
28% Capital gains tax rate on collectibles

$5,000 if under age 50
$6,000 if 50 or older

Maximum contribution for Traditional/Roth IRA
$11,500 if under age 50
$14,000 if 50 or older		 Maximum employee contribution to SIMPLE IRA
25% of eligible compensation up to $49,000 Maximum Contribution to SEP IRA
$16,500 if under age 50
$22,000 if 50 or older		 401(k) maximum employee contribution limit
100%

Self-employed health insurance deduction
$5,000,000 Estate tax exemption
$13,000 Annual Exclusion for Gifts

2011 Tax Rates - Education
$2,500 American Opportunity Credit (Hope)
$2,000 Lifetime Learning Credit
$2,500 Student Loan Interest Deduction
$2,000 Coverdell Education Savings Contribution

 

Terri's Tax Service, Inc.
29346 Harper
St. Clair Shores, MI 48081
Phone: 586.778.3774
Fax: 586.778.3331
info@terris-tax.com

We gladly accept:

Credit Card Logos