Marginal Tax Rate Calculator 2011

Knowing your income tax rate can help you calculate your tax liability for unexpected income, retirement planning or investment income. This calculator helps you estimate your average tax rate for 2011, your 2011 tax bracket, and your marginal tax rate for the 2011 tax year.

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Definitions

2011 Tax rates:
In 2011, Federal income tax rates were scheduled to increase to pre-2001 levels, but the "Tax Hike Prevention Act of 2010" left the existing tax brackets in place through 2012. The income ranges were increased modestly for inflation, but otherwise remained the same as 2010. Below are the resulting tax rates and income ranges for 2011:
Filing Status and Income Tax Rates 2011
Tax rateMarried filing jointly
or qualified widow(er)
SingleHead of householdMarried filing separately
10% $0 - 17,000 $0 - 8,500 $0 - $12,150 $0 - 8,500
15% $17,000 - 69,000 $8,500 - 34,500 $12,150 - 46,250 $8,500 - 34,500
25% $69,000 - 139,350 $34,500 - 83,600 $46,250 - 119,400 $34,500 - 69,675
28% $139,350 - 212,300 $83,600 - 174,400 $119,400 - 193,350 $69,675 - 106,150
33% $212,300 - 379,150 $174,400 - 379,150 $193,350 - 379,150 $106,150 - 189,575
35% over $379,150 over $379,150 over $379,150 over $189,575
Source: http://www.irs.gov
Wages, salaries, tips, etc.
This is your total income for the year. To keep things simple this calculator assumes this is your net income, after deductions for retirement contributions such as 401(k)s, IRAs, etc.

Filing status
Choose your filing status. Your filing status determines the income levels for your Federal tax bracket. It is also important for calculating your standard deduction, personal exemptions, and deduction phase out incomes. The table below summarizes the five possible filing status choices. It is important to understand that your marital status as of the last day of the year determines your filing status.

Filing Status for 2011

Married filing jointlyIf you are married, you are able to file a joint return with your spouse. If your spouse died during the tax year, you are still able to file a joint return for that year. You may also choose to file separately under the status "Married filing separately".
Qualified Widow(er)Generally, you qualify for this status if your spouse died during the previous tax year (not the current tax year) and you and your spouse filed a joint tax return in the year immediately prior to their death. You are also required to have at least one dependent child or step child whom which you are the primary provider.
Single

If you are divorced, legally separated or unmarried as of the last day of the year you should use this status.
Head of householdThis is the status for unmarried individuals that pay for more than half of the cost to keep up a home. This home needs to be the main home for the income tax filer and at least one qualifying relative. You can also choose this status if you are married, but didn't live with your spouse at anytime during the last six months of the year. You also need to provide more than half of the cost to keep up your home and have at least one dependent child living with you.
Married filing separatelyIf you are married, you have the choice to file separate returns. The filing status for this option is "married filing separately".

For 2011, the standard deductions are $11,600 for married couples filing jointly, $5,800 for married couples filing separately and singles, and $8,500 for heads of household.

Are you someone's dependent?
Choose 'no' if no one can claim you or your spouse as a dependent. Choose 'yes' if someone can claim you as a dependent. Choose 'both you and your spouse if you both are dependents. (You are a dependent if someone supports you and can claim a dependency exemption for you.)

Number of additional dependents
A dependent is someone you support and for whom you can claim a dependency exemption. In 2011, each dependent you claim entitles you to receive a $3,700 reduction in your taxable income (see exemptions below). In 2011, each dependent under the age of 17 also receives a tax credit of $1000. The credit is, however, phased out at higher incomes.

Itemized deductions
This is the total of your itemized deductions that you can include on schedule A of your Federal income taxes. For most people this includes state income taxes paid for the year, interest on a mortgage and any charitable contributions. Other itemized deductions include certain investment expenses, medical expenses exceeding 7.5% of your adjusted gross income, and some moving expenses.