Iowa Accountant Tax Preparation
Here are some basic notes for tax year 2011 for all taxpayers.
Standard Deduction
- Married Filing Jointly: $11,600
- Single: $5,800
- Head of Household: $8,500
- Married Filing Separately: $5,800
- Qualified Widow: $11,600
Personal Exemption
- All Taxpayers: $3,700
Payroll Taxes
- Social Security tax: 4.2%* (on first $106,800 of income)
- Medicare: 1.45%*
- *For those self employed, Social Security is 10.4% and Medicare is 2.9%.
Federal Tax Tables
For complete tables, please visit
| Married Filing Jointly | ||||||||
| Taxable Income | Rate | Adjustment | ||||||
| $0 | - | $17,000 | x | 10% | - | $0 | = | Tax |
| $17,001 | - | $69,000 | x | 15% | - | $850 | = | Tax |
| $69,001 | - | $139,350 | x | 25% | - | $7,750 | = | Tax |
| $139,351 | - | $212,300 | x | 28% | - | $11,930.50 | = | Tax |
| $212,301 | - | $379,150 | x | 33% | - | $22,545.50 | = | Tax |
| $379,151 | - | above | x | 35% | - | $30,128.50 | = | Tax |
| Single | ||||||||
| Taxable Income | Rate | Adjustment | ||||||
| $0 | - | $8,500 | x | 10% | - | $0 | = | Tax |
| $8,501 | - | $34,500 | x | 15% | - | $425 | = | Tax |
| $34,501 | - | $83,600 | x | 25% | - | $3,875 | = | Tax |
| $83,601 | - | $174,400 | x | 28% | - | $6,383 | = | Tax |
| $174,401 | - | $379,150 | x | 33% | - | $15,103 | = | Tax |
| $379,151 | - | above | x | 35% | - | $22,686 | = | Tax |
| Head of Household | ||||||||
| Taxable Income | Rate | Adjustment | ||||||
| $0 | - | $12,150 | x | 10% | - | $0 | = | Tax |
| $12,151 | - | $46,250 | x | 15% | - | $607.50 | = | Tax |
| $46,251 | - | $119,400 | x | 25% | - | $5,232.50 | = | Tax |
| $119,401 | - | $193,350 | x | 28% | - | $8,814.50 | = | Tax |
| $193,351 | - | $379,150 | x | 33% | - | $18,482 | = | Tax |
| $379,151 | - | above | x | 35% | - | $26,065 | = | Tax |
| Married Filing Separately | ||||||||
| Taxable Income | Rate | Adjustment | ||||||
| $0 | - | $8,500 | x | 10% | - | $0 | = | Tax |
| $8,501 | - | $34,500 | x | 15% | - | $425 | = | Tax |
| $34,501 | - | $69,675 | x | 25% | - | $3,875 | = | Tax |
| $69,676 | - | $106,150 | x | 28% | - | $5,965.25 | = | Tax |
| $106,151 | - | $189,575 | x | 33% | - | $11,272.75 | = | Tax |
| $189,576 | - | above | x | 35% | - | $15,064.25 | = | Tax |
| Qualified Widow | ||||||||
| Taxable Income | Rate | Adjustment | ||||||
| $0 | - | $17,000 | x | 10% | - | $0 | = | Tax |
| $17,001 | - | $69,000 | x | 15% | - | $850 | = | Tax |
| $69,001 | - | $139,350 | x | 25% | - | $7,750 | = | Tax |
| $139,351 | - | $212,300 | x | 28% | - | $11,930.50 | = | Tax |
| $212,301 | - | $379,150 | x | 33% | - | $22,545.50 | = | Tax |
| $379,151 | - | above | x | 35% | - | $30,128.50 | = | Tax |
State Tax Table
| State of Iowa - All Statuses | ||||||||
| Taxable Income | Rate | Adjustment | ||||||
| $0 | - | $1,439 | x | .36% | - | $0 | = | Tax |
| $1,440 | - | $2,878 | x | .72% | - | $5 | = | Tax |
| $2,879 | - | $5,756 | x | 2.43% | - | $54 | = | Tax |
| $5,757 | - | $12,951 | x | 4.5% | - | 174 | = | Tax |
| 12,952 | - | $21,585 | x | 6.12% | - | $383 | = | Tax |
| $21,586 | - | $28,780 | x | 6.48% | - | $461 | = | Tax |
| $28,871 | - | $43,170 | x | 6.80% | - | $553 | = | Tax |
| $43,171 | - | $64,755 | x | 7.92% | - | $1,037 | = | Tax |
| $64,756 | - | above | x | 8.98% | - | $1,723 | = | Tax |