On this page you'll find helpful reference numbers such as rates, limits, and phase-outs.  There are also rules and regulations about various tax subjects for you to review.  If you have any questions about these numbers, please don't hesitate to contact us.  Thanks!

Mileage Rates

2013:      Standard Mileage Rate:      $0.565 / mile        Medical Mileage Rate:    $0.24/mile         

             Charitable Mileage Rate:      $0.14/mile

2012:      Standard Mileage Rate:      $0.555 / mile        Medical Mileage Rate:    $0.23/mile          

                Charitable Mileage Rate:    $0.14/mile

Retirement Plan Contribution Limits

• Plan Type20112012   2013
  

• IRA (Age 49 & Below) $5,000  $5,000 $5,500
  

• Catch-up for IRA (Over 50)              $1,000               $1,000 $ 1,000
  

• Defined Contribution Plans            $49,000        $50,000 $51,000
  

• 401(k), 403(b), & SAR-SEP      $16,500                             $17,000 $17,500
  

• Catch-up for401(k), 403(b), & SAR-SEP (Over 50)            $5,500               $5,500 $ 5,500
  

• Simple Plan                    $11,500              $11,500 $12,000
  

• Catch-up for Simple Plan (Over 50)   $2,500 $2,500 $ 2,500
  

• Social Security Taxable Wage Base              $106,800                                    $110,000$113,700
  

2012 Personal Income Tax Rates

Marginal Tax Rate   Single Married Filing Jointly            Married Filing Separately Head of Household

   or Qualified Widow(er)

10% $0 - $8,700          $0 -$17,400     $0 - $8,700 $0 - $12,400

15%   $8,701- $35,350 $17,401 - $70,700           $8,701 - $35,350              $12,401 - $47,350

25%      $35,351 - $85,650               $70,701 - $142,700         $35,351 - $71,350              $47,351 - $122,300

28%      $85,651 - $178,650   $142,701 - $217,450         $71,351 - $108,725            $122,301 - $198,050

33%            $178,651 - $388,350           $217,451 - $388,350       $108,726-– $194,175            $198,051 - $388,350

35%                     $388,351+                  $388,351+                     $194,176+                  $388,351+

2012 Corporate Tax Rates

Marginal Tax Rate Taxable Income

15%           $0 - $50,000

25% minus $5,000                     $50,000 - $75,000

34%  minus $11,750        $75,000 - $100,000

39%  minus $16,750               $100,000 - $335,000

34%                          $335,000 - $10,000,000

35%  minus $100,000    $10,000,000 - $15,000,000

38% minus $550,000     $15,000,000 - $18,333,333

35%                                   $18,333,333+

2012 Estates and Trusts 2011    2012

Marginal Tax Rate* Taxable IncomeTaxable Income

15% $0 - $2,300        $0 -$2,400

25%         $2,300 - $5,450 $2,401 - $5,600

28%         $5,450 - $8,300 $2,601 - $8,500

33%       $8,300 - $11,350 $8,501 - $11,650

35%             Over $11,350 Over $11,651

Formerly Galoia and Co LLC

Lisa Galoia, EA

7610 40th St W  Suite 100

University Place, WA 98466

(253) 564-0404

(253) 564-0808 Fax

Website Designed at Homestead™ Create a Website for Your Business