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 2012
Business: 1st 6 months 51.0 cents per mile
2nd 6 months 55.5 cents per mile 		55.5 cents per mile
Charitable: 14.0 cents per mile 14.0 cents per mile
Medical: 1st 6 months 19.0 cents per mile
2nd 6 months 23.5 cents per mile 		23.0 cents per mile
Moving: 1st 6 months 19.0 cents per mile
2nd 6 months 23.5 cents per mile 		23.0 cents per mile
FICA RATES

2011 2012
Employer social security rate: 6.2% 6.2%
Employee social security rate: 4.2% 4.2%
Self employed social security rate: 10.4% 10.4%
Social security wage ceiling: $106,800 $110,100
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 $14,640
             Age 65 and over: None None
Retirement Plan Limits

2011 2012
Maximum elective salary
deferral for 401(k) plans 		$16,500 $17,000
Maximum salary reduction
for simple plans		 $11,500 $11,500
Maximum contribution for
defined contribution plans		 $49,000 $50,000
Annual compensation limit on
which plan contributions are based		 $245,000 $250,000
Maximum annual benefit
under defined benefit plan		 $195,000 $200,000
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 $104,000 - $124,000 (Joint)
$52,000 - $62,000 (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
2012 - $12,650 		$185,210 - $225,210
$189,710 - $229,710
 
Deductions/Other
  Maximum
Amount		 Phase-Out
Student loan interest deduction $2,500 $125,000 - $155,000 (Joint)
$60,000 - $75,000 (Single)
Roth IRA contribution $5,000 $173,000 - $183,000 (Joint)
$110,000 - $125,000 (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 		$139,000 $560,000
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
2012
Taxable Income
of the
                                        But Not
      Over                               Over		 Pay % on
+   Excess		   amount
over---
$             0      -----   $            8,700
        8,700      -----               35,350
      35,350      -----               85,650
      85,650      -----             178,650
    178,650      -----             388,350
    388,350      -----             ............		 $                    0
             870.00
          4,867.50
        17,442.50
        43,482.50
      112,683.50		       10.0    %
      15.0
      25.0
      28.0
      33.0
      35.0		   $                      0
    8,700
    35,350
    85,650
    178,650
    388,350
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

2012
Taxable Income
of the
                                        But Not
      Over                               Over		 Pay % on
+   Excess		   amount
over---
$             0      -----   $          17,400
      17,400      -----               70,700
      70,700      -----             142,700
    142,700      -----             217,450
    217,450      -----             388,350
    388,350      -----             ............		 $                    0
          1,740.00
          9,735.00
        27,735.00
        48,665.00
      105,062.00		       10.0    %
      15.0
      25.0
      28.0
      33.0
      35.0		   $                      0
 17,400
    70,700
   142,700
    217,450
    388,350
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

2012
Taxable Income
of the
                                        But Not
      Over                               Over		 Pay % on
+   Excess		   amount
over---
$             0      -----   $            8,700
        8,700      -----               35,350
      35,350      -----               71,350
      71,350      -----             108,725
    108,725      -----             194,175
    194,175      -----             ............		 $                    0
             870.00
          4,867.55
        13,867.50
        24,332.50
        52,531.00		       10.0    %
      15.0
      25.0
      28.0
      33.0
      35.0		   $                      0
    8,700
    35,350
     71,350
      108,725
    194,175
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

2012
Taxable Income
of the
                                        But Not
      Over                               Over		 Pay % on
+   Excess		   amount
over---
$             0      -----   $           12,400
      12,400      -----                47,350
      47,350      -----              122,300
    122,300      -----              198,050
    198,050      -----              388,350
    388,350      -----             ............		 $                    0
          1,240.00
          6,482.50
        25,220.00
        46,430.00
      109,229.00		       10.0    %
      15.0
      25.0
      28.0
      33.0
      35.0		   $                      0
 12,400
    47,350
     122,300
      198,050
    388,350
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

2012
Taxable Income
of the
                                        But Not
      Over                               Over		 Pay % on
+   Excess		   amount
over---
$             0      -----   $           2,400
        2,400      -----                5,600
        5,600      -----                8,500
        8,500      -----              11,650
      11,650      ----- ............		 $                    0
             360.00
          1,160.00
          1,972.00
          3,011.50
       15.0
      25.0
      28.0
      33.0
      35.0		   $                      0
 2,400
    5,600
     8,500
      11,650