If taxable income is over
  But Not Over                
    The Tax is:                  
    
$0$2,400
15% of the taxable amount
$2,400
$5,600
$360 plus 25% of the amount over $2,400
$5,600
$8,500
$1,160 plus 28% of the amount over $5,600
$8,500
$11,650
$1,972 plus 33% of the amount over $8,500
$11,650
No Limit
$3,011.50 plus 35% of the amount over $11,650




Personal Exemption
$3,800
Business Equipment Expense Deduction: Used

Business Equipment Expense Deduction: New

Prior-year safe harbor for estimated taxes of higher-income 
110% of your 2011 tax liability
Standard mileage rate for business driving 
55.5 cents
Standard mileage rate for medical/moving driving 
23 cents
Standard mileage rate for charitable driving 
14 cents
Child Tax Credit 
$1,000
Unearned income maximum for children 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 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


American Opportunity Tax Credit
$2,500
Lifetime Learning Credit 
$2,000
Student Loan Interest Deduction 
$2,500
Coverdell Education Savings Contribution 
$2,000


2012 Tax Rates Schedule X - Single

Social Security 2012 Tax Rates

2012 Tax Rates Schedule Y-1 - Married Filing Jointly or Qualifying Widow(er)

Miscellaneous 2012 Tax Rates

2012 Tax Rates Estates & Trusts

2012 Tax Rates Schedule Y-2 - Married Filing Separately

Education 2012 Tax Rates

  If taxable income is over
  But Not Over                
    The Tax is:                  
    
$0$12,400
10% of the taxable amount
$12,400$47,350$1,740 plus 15% of the amount over $17,400
$47,350
$122,300
$9,735 plus 25% of the amount over $70,700
$122,300
$198,050
$27,735 plus 28% of the amount over $142,700
$198,050
$388,350
$48,665 plus 33% of the amount over $217,450
$388,350
No Limit$105,062 plus 35% of the amount over $388,350


2012 Tax Rates Schedule Z - Head of Household

QUESTIONS? CONCERNS? (813) 877-8918

HASKINS & HERRERA ACCOUNTANTS © 2016

TAX RATES

  If taxable income is over
  But Not Over                
    The Tax is:                  
    
$0$17,400
10% of the taxable amount
$17,400
$70,700
$1,740 plus 15% of the amount over $17,400
$70,700
$142,700
$9,735 plus 25% of the amount over $70,700
$142,700
$217,450
$27,735 plus 28% of the amount over $142,700
$217,450
$388,350
$48,665 plus 33% of the amount over $217,450
$388,350
No Limit$105,062 plus 35% of the amount over $388,350


2016 TAX RATES

  If taxable income is over
  But Not Over                
    The Tax is:                  
    
$0$8,700
10% of the taxable amount
$8,700
$35,350
$870 plus 15% of the amount over $8,700
$35,350
$71,350$4,867.50 plus 25% of the amount over $35,350
$86,650
$108,725
$13,867.50 plus 28% of the amount over $71,350
$178,650
$194,175
$22,332.50 plus 33% of the amount over $108,725
$388,350
No Limit$52,531 plus 35% of the amount over $194,175


  If taxable income is over
  But Not Over                
    The Tax is:                  
    
$0$8,700
10% of the taxable amount
$8,700
$35,350
$870 plus 15% of the amount over $8,700
$35,350
$71,350
$4,867.50 plus 25% of the amount over $35,350
$71,350
$108,725
$13,867.50 plus 28% of the amount over $71,350
$108,725
$194,175
$22,332.50 plus 33% of the amount over $108,725
$194,175
No Limit$52,531 plus 35% of the amount over $194,175


Base Salary
$110,100
Social Security Tax Rate
4.2%
Maximum Social Security Tax 
$4,624.20
Medicare Base Salary 
Unlimited
Medicare Tax Rate 
1.45%