McGraw-Hill FC 2011 Tax Guide
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McGraw-Hill FC 2011 Tax Guide

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The 2011 Tax Guide provides you with a summary of the 2010 Tax Relief Act, and guidelines on: ...

The 2011 Tax Guide provides you with a summary of the 2010 Tax Relief Act, and guidelines on:

Tax rates
Payroll taxes
Retirement
Dividends and capital gains
AMT
Estate and gift taxes
Education tax breaks

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    McGraw-Hill FC 2011 Tax Guide McGraw-Hill FC 2011 Tax Guide Document Transcript

    • 2011 Tax GuideWhat You Need to KnowAbout the New RulesPROOF ONLY Inform. Engage. Empower.
    • Tax Guide 2011 PROOF ONLY This guide is not intended to be tax advice and should not be treated as such. Each individual’s tax situation is different. You should contact your tax professional to discuss your personal situation.
    • Tax GuideQUICK REFERENCE2 IntroductionPROOF3 The 2010 Tax Relief Act: A Summary5 Income Tax Rates6 Dividends and Capital Gains ONLY8 Payroll Taxes9 The Alternative Minimum Tax10 IRAs and Employer-Sponsored Retirement Plans13 Education Tax Breaks14 Estate and Gift Taxes
    • INCOME TAX RATESAs a result of the legislation, existing rates on ordinaryincome, ranging from 10% to a high of 35%, will remain ineffect through 2012. Each tax rate indicated below appliesto a tier of your income, with the lowest portion taxed at10%, the next threshold taxed at 15% and so on. Your filing status — single taxpayer, head of household, or marriedcouple filing jointly or separately — determines the income ranges that define your tax rates. Rates on Ordinary Income for the 2011 Tax Year*Single or Married Filing SeparatelyPROOF $0 – $8,500 $0 + 10% $8,500 – $34,500 $850 + 15% over $8,500 $34,500 – $83,600 $4,750 + 25% over $34,500 $83,600 – $174,400 $17,025 + 28% over $83,600 $174,400 – $379,150 $42,449 + 33% over $174,400 ONLY $379,150 and over $110,016 + 35% over $379,150Married Filing Jointly or Qualifying Widow(er) $0 – $17,000 $0 + 10% $17,000 – $69,000 $1,700 + 15% over $17,000 $69,000 – $139,350 $9,500 + 25% over $69,000 $139,350 – $212,300 $27,087 + 28% over $139,350 $212,300 – $379,150 $47,513 + 33% over $212,300 $379,150 and over $102,574 + 35% over $379,150Head of Household $0 – $12,150 $0 + 10% $12,150 – $46,200 $1,215 + 15% over $12,150 $46,200 – $119,400 $6,322 + 25% over $46,200 $119,400 – $193,350 $24,622 + 28% over $119,400 $193,350 – $379,150 $45,328 + 33% over $193,350 $379,150 and over $106,642 + 35% over $379,150*Source: IRS. Bracket ranges are preliminary and subject to change. 5
    • Work With a ProfessionalIt’s important to remember that many of the provisionsof the 2010 Tax Relief Act expire at the end of 2011 or2012, unless Congress elects to extend them. Moreover,estate and gift tax rules are complex and warrant carefulplanning. Be sure to discuss your personal situation withyour tax professional.PROOF ONLY 17
    • PROOF ONLY © 2011 McGraw-Hill Financial Communications. All rights reserved. Reproduction in whole or in part is prohibited without the express permission of McGraw-Hill Financial Communications.Annual Managing Investing in Exchange- 529Financial Money in Municipal Traded CollegePlanning Retirement Bonds Funds Savings Plan