Tax Updates
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| TAX UPDATES FOR FILING 2011 RETURNS |
| Standard Deductions |
| |
Married filing jointly |
$ 11,600 |
| |
Single or Married filing separately |
$ 5,800 |
| |
Head of Household (increased) |
$ 8,500 |
| |
|
| Standard Exemption |
$ 3,700 |
| |
|
| Deductions |
|
| |
Mileage |
|
| |
January 1 - June 30, 2011 |
51¢ /per mile |
| |
July 1 - December 31, 2011 |
55.5¢ /per mile |
| |
Student Loan Interest |
$ 2,500 |
| |
|
| Credits |
Maximum Amount |
| |
Making Work Pay |
Expired |
| |
Education |
$ 2,500 |
|
|
