DOUGLAS COREY & ASSOCIATES, P.C.

Certified Public Accountants

6601 Little River Turnpike, Suite 440

Alexandria, Va 22312

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.


We provide training and support to business owners utilizing Intuit's QuickBooks and QuickBooks Pro software.



More about the Firm
Directions to our Office

Tax Information:
Mileage Rates
FICA Rates
Tax Benefits/Phase-Outs
Retirement Plan Limits
Tax Tables

Useful Sites to Visit:
IRS Forms and Publications
Estate Planning Information
Tax Info - 1040.com
Information Almanac
Social Security Planner
Travel Information/Rates
Virginia Department of Taxation
Real Estate Information
Social Security Administration
Auto Blue Book Values
Currency Exchange Rates

Fun Sites to Visit:
Women's Soccer World
Beanie Baby Info
Accountant Jokes
ESPN SportsZone
Disney Trip Planning
Bradyworld

Read about the Corey family's most recent DisneyWorld trip


We welcome your feedback and questions


This site was created and is maintained by GARON, Inc
©1996 GARON, Inc. on behalf of Douglas Corey & Associates, P.C. All Rights Reserved
More About the Firm
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.
Directions to our Office (The Pinecrest Building)
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
Credit		 Phase-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
Amount		 Phase-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 limit 		500,000 2,000,000
TAX TABLES
Single Individuals
2011
Taxable Income
of the
                                        But Not
      Over                               Over		 Pay % on
+   Excess		   amount
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
      110,016.50		       10.0    %
      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                               Over		 Pay % on
+   Excess		   amount
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
      108,421.25		       10.0    %
      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                               Over		 Pay % on
+   Excess		   amount
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
      102,574.00		       10.0    %
      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                               Over		 Pay % on
+   Excess		   amount
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
      101,085.50		       10.0    %
      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                               Over		 Pay % on
+   Excess		   amount
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
        51,287.00		       10.0    %
      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                               Over		 Pay % on
+   Excess		   amount
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
        50,542.75		       10.0    %
      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                               Over		 Pay % on
+   Excess		   amount
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
      106,637.50		       10.0    %
      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                               Over		 Pay % on
+   Excess		   amount
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
      105,095.00		       10.0    %
      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                               Over		 Pay % on
+   Excess		   amount
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                               Over		 Pay % on
+   Excess		   amount
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