Financial Fitness - Special Edition 2010/11
Special Edition 2010/11 PDF
Special Edition 2010/11 Articles
- Health Care Surtax
- Uncertain Tax Positions: The
IRS Strikes Back - The Marcellus Shale: Opportunities and Challenges
- Proposed Changes to
Lease Accounting
- The Only Thing Certain in Life
is Death and...
- Key Points of the Small Business Jobs Act of 2010
- Putting Together Your Tax Information: The “Short List” for Businesses and Individuals
- Proposed Accounting
Standards Updates
- Average Itemized Deductions
- Individual Income Tax
Rates 2010
- 2011 Wage and Tax Facts Quick Reference Guide
- Key Benefit Plan Limits
for 2011
- Newsletter Summary Page
Average Itemized Deductions*
The chart below provides the averages only for planning purposes and do not represent a suggested itemized deduction. In the event of an audit, itemized deductions may be investigated.
| Adjusted Gross Income |
Medical Expenses | Taxes | Interest | Charitable Contributions |
| $15,000 to $30,000 | $6,849 | $2,959 | $9,102 | $1,931 |
| $30,000 to $50,000 | $6,040 | $3,623 | $9,262 | $2,127 |
| $50,000 to $100,000 | $6,690 | $5,822 | $10,557 | $2,612 |
| $100,000 to $200,000 | $9,922 | $10,370 | $13,766 | $3,790 |
| $200,000 to $250,000 | $22,810 | $17,013 | $18,030 | $5,733 |
| $250,000 or more | $3,281 | $49,370 | $28,110 | $23,817 |
*Data based on Preliminary 2007 IRS Statistics
To ensure compliance with requirements imposed by the IRS, please note, any advice contained in this publication was not intended, or written, to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein. This publication is distributed with the understanding that the publisher and distributor are not providing legal, accounting or other professional advice and assume no liability whatsoever in conjunction with the information contained within this publication.