2011 Tax Law Changes
2011 Individual Income Tax Rates
Taxable Income
|
Tax Rate |
Single |
Joint |
Married Filing Separately |
Head of Household |
|
10% |
0 - 8,500 |
0 - 17,000 |
0 - 8,500 |
0 - 12,150 |
|
15% |
8,500 - 34,500 |
17,000 - 69,000 |
8,500 - 34,500 |
12,150 - 46,250 |
|
25% |
34,500- 83,600 |
69,000 - 139,350 |
34,500 - 69,675 |
46,250 - 119,400 |
|
28% |
83,600 - 174,400 |
139,350 - 212,300 |
69,675 - 106,150 |
119,400 - 193,350 |
|
33% |
174,400 -379,150 |
212,300 -379,150 |
106,150 - 189,575 |
193,350 - 379,150 |
|
35% |
over 379,150 |
over 379,150 |
over 189,575 |
over 379,150 |
Standard Deduction Amount
Joint returns & survivors - $11,600
Married filing separately - $5,800
Head of household - $8,500
Single - $5,800
Personal Exemption - $3,700
Standard Mileage Rate for Business Use – January thru June is $.51 cents per mile, July thru December is $.555 cents per mile
Standard Mileage Rate for Medical Use – January thru June is $.19 cents per mile, July thru December is $.235 cents per mile
Standard Mileage Rate for Charitable Use – January thru December is $.14 cents per mile
2011 FICA Rates
|
|
Tax Rate |
Maximum Wage Base |
Maximum Tax |
|
Social Security |
4.2% |
106,800 |
4,486 |
|
Medicare |
1.45% |
No Limit |
No Limit |
