Performing Artists

;">
Tax Countdown
Search
Make an Online AppointmentAppointment scheduling
by Appointment-Plus
Go to content

Main menu

ATO Tax Rates

Tax Center

Tax Rates


2012 Tax Rates - Single Taxpayers - Standard Deduction $5,950
2011 Rates

10%


0 to $8,700

15%


$8,700 to $35,350

25%


$35,350 to $85,650

28%


$85,650 to $178,650

33%


$178,650 to $388,350

35%


Over $388,350

2012 Tax Rates - Married Jointly & Surviving Spouses - Standard Deduction $11,900

10%


0 to $17,000

15%


$17,000 to $69,000

25%


$69,000 to $139,350

28%


$139,350 to $212,300

33%


$212,300 to $379,150

35%


Over $379,150

2012 Tax Rates - Married Filing Separately - Standard Deduction $5,950

10%


0 to $8,500

15%


$8,500 to $34,500

25%


$34,500 to $69,675

28%


$69,675 to $106,150

33%


$106,150 to $189,575

35%


Over $189,575

2012 Tax Rates - Head of Household - Standard Deduction $8,700

10%


0 to $12,150

15%


$12,150 to $46,250

25%


$46,250 to $119,400

28%


$119,400 to $193,350

33%


$193,350 to $379,150

35%


Over $379,150

2012 Tax Rates - Estates & Trusts

15%


0 to $2,400

25%


$2,400 to $5,600

28%


$5,600 to $8,500

33%


$8,500 to $11,650

35%


Over $11,650


Social Security


2012 Tax Rates

Social Security Tax Rate: Employers


6.2%

Social Security Tax Rate: Employees


4.2%

Social Security Tax Rate: Self-Employed


10.4%

Maximum Taxable Earnings


$110,100

Medicare Base Salary


Unlimited

Medicare Tax Rate


1.45%


Miscellaneous


2012 Tax Rates
Personal Exemption  $3,800

Business expensing limit: Equipment


$560,000

Business expensing limit: New and Used Equipment and Software


$139,000

Prior-year safe harbor for estimated taxes of higher-income


110% of your 2012 tax liability

Standard mileage rate for business driving 1/1/2012 to 12/31/2012


55.5 cents

Standard mileage rate for medical/moving driving 1/1/2012 to 12/31/2012


23 cents

Standard mileage rate for charitable driving


14 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 $50,000

401(k) maximum employee contribution limit


$17,000 if under age 50
$22,500 if 50 or older

Estate tax exemption


$5,120,000

Annual Exclusion for Gifts


$13,000


Education


2012 Tax Rates

American Opportunity Credit (Hope)


$2,500

Lifetime Learning Credit


$2,000

Student Loan Interest Deduction


$2,500

Coverdell Education Savings Contribution


$2,000

San Dimas, Long Beach, Valencia,

Palmdale, Irvine


Phone: (877)700-9110

Fax: 888 441-0635

info@policetax.com

 
Home Page | About Us | Australia Wide | Appointments | Referrals to Us | New Client | Tax Services | QuickFast | Resources | Tax Center | Contact Us | Prepaid | General Site Map
Back to content | Back to main menu