Tax Rates

Tax RatesTax rates change frequently - check My Accounting Center's Tax Center to keep up. Our tax rates page features all of the latest tax rate information for people of every demographic. Please print out or bookmark this handy guide to income tax rate.

Our company employs a trained and dedicated staff of accountants, bookkeepers and other financial services experts, so we can answer your questions in addition to providing you with income tax rates and tax guidelines. With decades of experience, we're the company for you. Our other Tax Center resources include:

Track Your Refund: We provide smooth and effective refund tracking services through our online portal service.

Tax Due Dates: Get a handle on due dates with our guide.

Tax Forms and Publications: Save yourself time by viewing IRS forms and guidelines from home.

Tax Records Guide: Consult our handy guide to learn when to keep and when to dispose of your records.

State Tax Forms: Print out and save tax information for you r state.

1040 Tax Calculator: We can estimate your total taxes for the year.

Income Tax Calculator: Our company provides smooth and accurate income tax calculation services.

Ready to learn more about My Accounting Center's Tax Center and how we can provide you with all needed information on tax rates? Get in touch today. We look forward to providing you with tax rate information and other similar services. Please call us with your specifications - we hope to provide you and your family or your business with the services you need.

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


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