|
|
|
| Standard Deductions |
2010 |
2009 |
| Joint or Qualifying Widow(er) |
$11,400 |
$11,400 |
| Single |
5,700 |
5,700 |
| Head of Household |
8,400 |
8,350 |
| Married Filing Separately |
5,700 |
5,700 |
| Addt. for Elderly/Blind-Married |
1,100 |
1,100 |
| Addt. for Elderly/Blind-Unmarried or Head of Household |
1,400 |
1,400 |
| Taxpayer Claimed as Dependent |
950 |
950 |
| Exemption Deduction |
| Personal/Dependent |
$3,650 |
$3,650 |
| FICA/SE Tax Information |
| OASDI Tax Maximum Earnings |
106,800
|
106,800 |
| FICA (OASDI and HI) Tax Rate (Employee) |
7.65% |
7.65% |
| SE Tax Rate |
15.30% |
15.30% |
| Maximum Deductible 401(k)/403(b) Employee Contribution |
16,500 |
16,500 |
| Catch-up 401k for 50 and above |
5,500 |
5,000
|
| Simple IRA Contribution |
11,500 |
11,500 |
| Catch-up Simple IRA for 50 and above |
2,500 |
2,500 |
| Self-Employed Health Insurance Deduction |
100% |
100% |
| Earnings Ceiling for Social Security |
| Between Ages 62 and 66 (for 2010) |
$14,160 |
$14,160 |
| Age 66-69 |
Unlimited |
Unlimited |
| Age 70 and Above |
Unlimited |
Unlimited |
| Mileage Rates |
| Businesses |
$.50 |
$.55
|
| Charitable |
.14 |
.14 |
| Medical |
.165 |
.24 |
| Moving |
.165
|
.24 |
| Sec. 179 Deduction |
250,000 |
250,000 |
*Represents unofficial estimates at this time. The Internal Revenue Service and other agencies will announce the official inflation adjusted figures around the end of this year.
Welcome, Company, Newsletter, Contact Us, Quick Facts, Calendar, Links, Calculators, File Retention, Planning Tool
|