2011 Tax Tricks Tips and Advice

For 2011 many IRS tax numbers have been adjusted thanks to new rules that update various IRS numbers automatically each year to account for inflation instead of having to wait for tax brackets, tax deductions, and tax credits, to be adjusted manually via legislation.

You can prepare taxes free online at TurboTax, but beware that you have to pay to save, print or file.

You can find information about 2010 tax tricks tips and advice on last year’s page.

For information on the 2011 standard deduction.

2011 Tax Bracket Table

Married Filing Jointly 2011 Tax Brackets

• $0 to $17,000 — 10%
• $17,000 to $69,000 — 15%
• $69,000 to $139,350 — 25%
• $139,350 to $212,300 — 28%
• $212,300 to $379,150 — 33%
• $379,150 and up — 35%

Filing Single 2011 Tax Bracket

• $0 to $8,500 — 10%
• $8,500 to $34,500 — 15%
• $34,500 to $83,600  — 25%
• $83,600 to $174,400 — 28%
• $174,400 to $379,150 — 33%
• $379,150 and up — 35%

2011 IRS Mileage Rates

The standard mileage deduction rates have been published by the IRS.

For business purposes, the mileage tax deduction standard rate is 51 cents per mile. See our notice about new 2011 mileage rates for the standard mileage amount for charitable, medical, or moving expenses deductions.

Update: The IRS increased the standard mileage deduction rate for the second half of 2011. For miles driven between July 1st and December 31st, the IRS mileage rate 2011 is 55.5 cents per mile.

Tax Deductions for 2011

• Deducting Capital Losses
• Deducting Mortgage Interest
• 2011 IRS Mileage Rate
• Spousal IRA Contribution Limits
• Roth IRA Income Limits
• Section 179 Deduction Limits

2012 Tax Information

• IRA Contribution Limits 2012
• Standard Deduction 2012