(434) 525-7989 • 1076 Thomas Jefferson Rd Suite A, Forest VA
Designed & Hosted by One Source Graphics LLC
2010 Tax Rates - Single Taxpayers - Standard Deduction $5,700 2009 Rates
10%
0 to $8,375
15%
$8,375 to $34,000
25%
$34,000 to $82,400
28%
$82,400 to $171,850
33%
$171,850 to $373,650
35%
Over $373,650
2010 Tax Rates - Married Jointly & Surviving Spouses - Standard Deduction $11,400
10%
0 to $16,750
15%
$16,750 to $68,000
25%
$68,000 to $137,300
28%
$137,300 to $209,250
33%
$209,250 to $373,650
35%
Over $373,650
2010 Tax Rates - Married Filing Separately - Standard Deduction $5,700
10%
0 to $8,375
15%
$8,375 to $34,000
25%
$34,000 to $68,650
28%
$68,650 to $104,625
33%
$104,625 to $186,825
35%
Over $186,825
2010 Tax Rates - Head of Household - Standard Deduction $8,400
10%
0 to $11,950
15%
$11,950 to $45,550
25%
$45,550 to $117,650
28%
$117,650 to $190,550
33%
$190,550 to $373,650
35%
Over $373,650
2010 Tax Rates - Estates & Trusts
15%
0 to $2,300
25%
$2,300 to $5,350
28%
$5,350 to $8,200
33%
$8,200 to $11,150
35%
Over $11,150
Social Security
2010 Tax Rates
Base Salary
$106,800.00
Social Security Tax Rate
$0.06
Maximum Social Security Tax
$6,621.60
Medicare Base Salary
Unlimited
Medicare Tax Rate
$0.01
Miscellaneous
2010 Tax Rates
Personal Exemption
$3,650.00
Business equipment expensing deduction
$500,000.00
Prior-year safe harbor for estimated taxes of higher-income
110% of your 2009 tax liability
Standard mileage rate for business driving
50 cents
Standard mileage rate for medical/moving driving
16.5 cents
Standard mileage rate for charitable driving
14 cents
Child Tax Credit
$1,000.00
Unearned income maximum for children under 19 before kiddie tax applies
$950.00
Maximum capital gains tax rate for taxpayers in the 10% or 15% bracket
$0.00
Maximum capital gains tax rate for taxpayers above the 15% bracket
$0.15
Capital gains tax rate for unrecaptured Sec. 1250 gains
$0.25
Capital gains tax rate on collectibles
$0.28
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
$1.00
Estate tax exemption
Unlimited
Annual Exclusion for Gifts
$13,000.00
Education
2010 Tax Rates
American Opportunity Credit (Hope)
$2,500.00
Lifetime Learning Credit
$2,000.00
Student Loan Interest Deduction
$2,500.00
Coverdell Education Savings Contribution
$2,000.00