| Personal Exemption |
$3,700 |
| Business equipment expensing deduction |
$500,000 |
| Prior-year safe harbor for estimated tax of higher-income |
110% of your 2010 tax liability |
| Standard mileage rate for business driving |
Jan thru June: 51 cents
July thru Dec: 55.5 cents
|
| Standard mileage rate for medical/moving driving |
Jan thru June: 19 cents
July thru Dec: 23.5 cents |
| Standard mileage rate for charitable driving |
Jan thru June: 19 cents
July thru Dec: 23.5 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
$22,500 if 50 or older |
| Self-employed health insurance deduction |
100% |
| Estate tax exemption |
$5,000,000 |
| Annual Exclusion for Gifts |
$13,000 |
