|
2011 Standard Mileage Rates
The 2011 standard mileage rates used to calculate the deductible costs of operating an automobile.
Cents per Mile
| Purpose |
Rates 1/1 through 6/30/11 |
Rates 7/1 through 12/31/11 |
| Business |
51 |
55.5 |
| Medical/Moving |
19 |
23.5 |
| Charitable |
14 |
14 |
Social Security Wage Base
For 2011 and 2010, the Social Security wage base is $106,800.
Retirement Account Information
Contribution limits for 2011 and 2010:
|
Traditional & Roth IRA |
Under age 50 |
$5,000 |
|
|
Age 50 & over |
$6,000 |
|
401(k) & 403(b) |
Under age 50 |
$16,500 maximum deferral |
|
|
Age 50 & over |
$22,000 maximum deferral |
|
Simple |
Under age 50 |
$11,500 maximum deferral |
|
|
Age 50 & over |
$14,000 maximum deferral |
|
SEP |
Maximum contribution $49,000 | |
