| Voice: (703) 354-2900 | Fax: (703) 354-2606 |
Douglas Corey &
Associates, P.C. is a full service certified public accounting
firm, serving the tax and financial needs of small businesses,
non-profit organizations and individuals in the Washington, D.C.
metropolitan area.
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This site was created and is maintained by GARON, Inc
©1996 GARON, Inc. on behalf of Douglas Corey &
Associates, P.C. All Rights Reserved
In 1990, after 7 years with a medium sized Washington, D.C. area accounting firm, Doug Corey started the accounting firm known today as Douglas Corey & Associates, P.C. Our firm has grown from a one man shop to a full service firm with four full time associates and three part-timers. Doug has over twenty-five years of experience, with an emphasis on income taxation. Our firm's clients are predominantly small businesses in the real estate and services industries, as well as nonprofit organizations. Our firm offers a full range of services, from audits to tax preparation.
From Route 395:
Take Little River Turnpike (Route 236) West approximately 1.5 miles. After the traffic light at Braddock Road, take next left into building parking lot.
From Beltway:
Take Little River Turnpike East approximately 3 miles. After passing Campbell-Ferrara Nursery on your right, take a right into building parking lot.
MILEAGE RATES
2011 2010 Business: 51.0 cents per mile 50.0 cents per mile Charitable: 14.0 cents per mile 14.0 cents per mile Medical: 19.0 cents per mile 16.5 cents per mile Moving: 19.0 cents per mile 16.5 cents per mile
FICA RATES
2011 2010 Employer social security rate: 6.2% 6.2% Employee social security rate: 4.2% 6.2% Self employed social security rate: 12.4% 12.4% Social security wage ceiling: $106,800 $106,800 Employer and employee Medicare rate: 1.45% 1.45% Self employed Medicare rate: 2.9% 2.9% Medicare ceiling: None None Social Security Earnings Limits
Below Age 65: $14,160 $14,160 Age 65 and over: None None
Retirement Plan Limits
2011 2010 Maximum elective salary
deferral for 401(k) plans$16,500 $16,500 Maximum salary reduction
for simple plans$11,500 $11,500 Maximum contribution for
defined contribution plans$49,000 $49,000 Annual compensation limit on
which plan contributions are based$245,000 $245,000 Maximum annual benefit
under defined benefit plan$195,000 $195,000 Maximum IRA Contribution
$5,000 $5,000 Maximum IRA "Catchup Contribution"
for taxpayer 50 or older$1,000 $1,000 Maximum 401K "Catchup Contribution"
for taxpayer 50 or older$5,500 $5,500 Maximum SIMPLE "Catchup Contribution"
for taxpayer 50 or older$2,500 $2,500
Tax Benefits/Phase-outs
Credits Maximum
CreditPhase-Out Child under 17 $1,000 Starts at $110,000 (Joint)
Starts at $75,000 (Single)Education - Lifetime Learning Credit $2,000 $102,000 - $122,000 (Joint)
$51,000 - $61,000 (Single)Education - American Opportunity Credit $2,500 $160,000 - $180,000 (Joint)
$80,000 - $90,000(Single)1st Time DC home buyer $5,000 $110,000 - $130,000 (Joint)
$70,000 - $90,000 (Single)Adoption Credit 2011 - $13,360
2010 - $13,170$182,180 - $222,180
$182,520 - $222,520
Deductions/Other Maximum
AmountPhase-Out Student loan interest deduction $2,500 $120,000 - $150,000 (Joint)
$60,000 - $75,000 (Single)
Roth IRA contribution $5,000 $167,000 - $177,000 (Joint)
$105,000 - $120,000 (Single)Education IRA contribution $2,000 $190,000 - $220,000 (Joint)
$ 95,000 - $110,000 (Single)Active Rental Real Estate Deduction $25,000 $100,000 - $150,000
"Section 179"
asset expense limit500,000 2,000,000
TAX TABLES
Single Individuals
2011
Taxable Income
of the But Not
Over OverPay % on
+ Excessamount
over---$ 0 ----- $ 8,500
8,500 ----- 34,500
34,500 ----- 83,600
83,600 ----- 174,400
174,400 ----- 379,150
379,150 ----- ............$ 0
850.00
4,750.00
17,025.00
42,449.00
110,016.5010.0 %
15.0
25.0
28.0
33.0
35.0$ 0
8,500
34,500
83,600
174,400
379,150
2010
Taxable Income
of the But Not
Over OverPay % on
+ Excessamount
over---$ 0 ----- $ 8,375
8,375 ----- 34,000
34,000 ----- 82,400
82,400 ----- 171,850
171,850 ----- 373,650
373,650 ----- ............$ 0
837.50
4,681.25
16,781.25
41,827.25
108,421.2510.0 %
15.0
25.0
28.0
33.0
35.0$ 0
8,375
34,000
82,400
171,850
373,650
Married Filing Jointly and Surviving Spouses
2011
Taxable Income
of the But Not
Over OverPay % on
+ Excessamount
over---$ 0 ----- $ 17,000
17,000 ----- 69,000
69,000 ----- 139,350
139,350 ----- 212,300
212,300 ----- 379,150
379,150 ----- ............$ 0
1,700.00
9,500.00
27,087.50
47,513.50
102,574.0010.0 %
15.0
25.0
28.0
33.0
35.0$ 0
17,000
69,000
139,350
212,300
379,150
2010
Taxable Income
of the But Not
Over OverPay % on
+ Excessamount
over---$ 0 ----- $ 16,750
16,750 ----- 68,000
68,000 ----- 137,300
137,300 ----- 209,250
209,250 ----- 373,650
373,650 ----- ............$ 0
1,675.00
9,362.50
26,687.50
46,833.50
101,085.5010.0 %
15.0
25.0
28.0
33.0
35.0$ 0
16,750
68,000
137,300
209,250
373,650
Married Individuals Filing Separately
2011
Taxable Income
of the But Not
Over OverPay % on
+ Excessamount
over---$ 0 ----- $ 8,500
8,500 ----- 34,500
34,500 ----- 69,675
69,675 ----- 106,150
106,150 ----- 189,575
189,575 ----- ............$ 0
850.00
4,750.00
13,543.75
23,756.75
51,287.0010.0 %
15.0
25.0
28.0
33.0
35.0$ 0
8,500
34,500
69,675
106,150
189,575
2010
Taxable Income
of the But Not
Over OverPay % on
+ Excessamount
over---$ 0 ----- $ 8,375
8,375 ----- 34,000
34,000 ----- 68,650
68,650 ----- 104,625
104,625 ----- 186,825
186,825 ----- ............$ 0
837.50
4,681.25
13,343.75
23,416.75
50,542.7510.0 %
15.0
25.0
28.0
33.0
35.0$ 0
8,375
34,000
68,650
104,625
186,825
Heads of Households
2011
Taxable Income
of the But Not
Over OverPay % on
+ Excessamount
over---$ 0 ----- $ 12,150
12,150 ----- 46,250
46,250 ----- 119,400
119,400 ----- 193,350
193,350 ----- 379,150
379,150 ----- ............$ 0
1,215.00
6,330.00
24,617.50
45,323.50
106,637.5010.0 %
15.0
25.0
28.0
33.0
35.0$ 0
12,150
46,250
119,400
193,350
379,150
2010
Taxable Income
of the But Not
Over OverPay % on
+ Excessamount
over---$ 0 ----- $ 11,950
11,950 ----- 45,500
45,500 ----- 117,650
117,650 ----- 190,550
190,550 ----- 373,650
373,650 ----- ............$ 0
1,195.00
6,235.00
24,260.00
44,672.00
105,095.0010.0 %
15.0
25.0
28.0
33.0
35.0$ 0
11,950
45,550
117,650
190,550
373,650
Estates and Nongrantor Trusts
2011
Taxable Income
of the But Not
Over OverPay % on
+ Excessamount
over---$ 0 ----- $ 2,300
2,300 ----- 5,450
5,450 ----- 8,300
8,300 ----- 11,350
11,350 ----- ............$ 0
345.00
1,132.50
1,930.50
2,937.00
15.0
25.0
28.0
33.0
35.0$ 0
2,300
5,450
8,300
11,350
2010
Taxable Income
of the But Not
Over OverPay % on
+ Excessamount
over---$ 0 ----- $ 2,300
2,300 ----- 5,350
5,350 ----- 8,200
8,200 ----- 11,200
11,200 ----- ............$ 0
345.00
1,107.50
1,905.50
2,895.50
15.0
25.0
28.0
33.0
35.0$ 0
2,300
5,350
8,200
11,200